Himachal Futuristic Communications (HFCL) in July reported a rise of 102 per cent in its standalone net profit for the first quarter 2019-20. The company’s net profit (profit after tax for the period from continuing operations) during the quarter under review grew to Rs 89 crore from Rs 44 crore reported for the corresponding period of 2018-19. Himachal Futuristic Communications operates as telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables. The company’s revenue from operations rose 16 per cent to Rs 1,201 crore from Rs 1,032 crore reported for the Q1 2018-19.

Commenting on the performance, Mr Mahendra Nahata, Managing Director, Himachal Futuristic Communications, said: “The holistic strengthening of organisational capabilities undertaken over the last 7-8 quarters is beginning to show the results.”