On the segmental front, revenue from turnkey contracts and services was at Rs 775.46 crore (down 2.6% YoY) while the revenue from telecom products was at Rs 278.86 crore (up 52.2% YoY).

Total expenditure during the quarter increased by 7.6% year-on-year (YoY) to Rs 923.63 crore. Concurrently, the interest payments during the same period were higher by 43.7% YoY as it came in at Rs 42.83 crore.

Profit before tax in Q2 FY21 stood at Rs 75.49 crore, down by 26.8% from Rs 103.13 crore reported in Q2 FY20. Tax expenses rose 44% YoY to Rs 17.91 crore in the second quarter.

HFCL is a telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables, having its manufacturing facilities at Solan, Goa and Chennai.

The scrip shed 0.30% to Rs 16.65 on the BSE. It traded in the range of 16.50 and 17 so far during the day.

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Net profit of HFCL declined 21.54% to Rs 51.00 crore in the quarter ended September 2020 as against Rs 65.00 crore during the previous quarter ended September 2019. Sales rose 7.64% to Rs 1054.32 crore in the quarter ended September 2020 as against Rs 979.52 crore during the previous quarter ended September 2019.

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HFCL will hold a meeting of the Board of Directors of the Company on 10 October 2020.

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HFCL announced that the 33rd Annual General Meeting (AGM) of the company will be held on 28 September 2020.

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