The company had recently managed to bag Purchase Orders (“PO”) aggregating to around Rs 115 crore from Reliance Projects & Property Management Services Limited.
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Telecom gear maker HFCL bagged export orders worth Rs 86.23 crore from European telecom companies for the supply of optical fiber cables. The order will be executed by February 2023.
The company had recently managed to bag Purchase Orders (“PO”) aggregating to around Rs 115 crore from Reliance Projects & Property Management Services Limited. The orders were for the supply of optical fiber cables as well. This was the company’s fifth order in two months from August 29 to October 29.
In its September quarter results, the company mentioned that its order book had reached a total of Rs 5,200 crore. HFCL’s revenue during the quarter stood at Rs 1,173 crore compared to Rs Rs 1,122 crore in the same period a year ago.
HFCL was one of the select few telecom component manufacturers to get approval from the Government of India under the Production Linked Incentive Scheme (PLI) for the telecom sector, last month. The company would receive Rs 652.79 crore from the Small Industries Development Bank of India (SIDBI) under the scheme. HFCL has committed investments of Rs 425 crore towards the manufacturing of eligible telecom products.
Shares of HFCL ended 1.5 percent lower at Rs 79.30. The stock has been flat on a year-to-date basis, declining two percent.