Market News
2 min read | Updated on March 10, 2025, 09:21 IST
SUMMARY
HFCL's material subsidiary, HTL Ltd, has received a contract worth ₹44.36 crore from the Indian Army to supply tactical optical fiber cable assemblies.
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HFCL is a leading technology company specialising in creating digital networks for telcos, enterprises and governments. | Image: Hfcl.com
HFCL share price: Shares of technology company HFCL rose on Monday, March 10, after the company's subsidiary bagged an order from the Indian Army.
The stock climbed 1.16% to ₹84.84 per share on the National Stock Exchange (NSE) at 9:20 am.
Its market capitalisation stands at ₹12,239.64 crore.
In an exchange filing, the company informed that its material subsidiary, HTL Ltd, has received a contract worth ₹44.36 crore from the Indian Army to supply tactical optical fiber cable assemblies.
This Made-in-India-manufactured solution features optical fiber cables that can withstand heavy armoured vehicle loads and is fitted with specialised military-grade connectors developed for harsh and demanding environments, it said.
"It is specifically engineered for mission-critical applications requiring rapid deployment of optical fiber communication links in challenging battlefield conditions. Lightweight and portable, it can be conveniently carried by infantry in a backpack," HFCL added.
Last month, the company secured ₹2,501.30 crore advance work order from Bharat Sanchar Nigam Ltd to execute the BharatNet Phase III Programme in the Punjab Telecom Circle.
On a consolidated basis, the company posted a 1.97% decline in its revenue from operations to ₹1,011.95 crore in the latest December quarter, as against ₹1,032.31 crore in the corresponding period last fiscal.
The profit after tax (PAT) fell 11.95% to ₹72.58 crore in the three-month period ended December 2024, compared ₹82.43 crore in the year-ago quarter.
"Despite a dynamic and challenging market environment, HFCL has demonstrated resilience with a stable quarterly performance. Our unwavering commitment to innovation and strategic growth continues to drive us forward," Mahendra Nahata, HFCL's Managing Director, said, adding, "The recent BharatNet order wins are a testament to our expertise in strengthening India's digital infrastructure, reinforcing our position as a trusted technology partner in the Country's broadband revolution."
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