HFCL Limited has bagged an order worth Rs 137.63 crore from Reliance Retail Limited. The order is to supply optical fiber cable and has to be executed by December 2023. Note that it is HFCL's subsidiary company, HTL Limited, that has bagged the order. Also, it is worth mentioning here that Reliance Industries Limited (RIL), the parent company of Reliance Retail, also owns a significant stake in HFCL.
Read More - Bharti Airtel Launches Airtel IQ Reach, A Self-Serve Marketing Platform
HFCL helps enterprises with telecom infrastructure development. It supplies high-end telecom equipment and optical fiber cable. In Q1 FY24, HFCL posted net sales of Rs 995 crore. This was lower compared to the same quarter's numbers a year back, which was Rs 1,051 crore. However, the company's net profit rose from Rs 53 crore in Q1 FY23 to Rs 76 crore in Q1 FY24.
Read More - Indus Towers Q1 FY24 Performance was Decent Owing to Tenancy Addition: ICICI Securities
Over the last few years, HFCL's stock has given an impressive return of more than 400%. At the end of June 30, 2023, the order book for the company stood at Rs 6684.71 crore. Out of this, Rs 1846.57 crore is for the defence communications' order book, Rs 656.92 crore is for the railway communications' order book, and Rs 3,591.67 crore is for the public telecommunication and EPC order book.
Read More - Vodafone Idea Needs to Raise Funds Fast to Pay Debt in the Short-Term: Report
HFCL's shares went up by 4% on Tuesday after announcing the order from Reliance Retail. At the time of writing, HFCL's shares are trading at Rs 65.80.
Read More - JioBook from Reliance Jio: Everything to Know Including Features and Price
