HFCL Q1 result: Net profit up 46.4% at Rs 111 cr as internet demand rises

Domestic telecom equipment maker HFCL Ltd on Tuesday reported a 46.4 per cent year-on-year rise in consolidated net profit for the June quarter to Rs 111 crore.

Its revenue rose 16.4 per cent to Rs 1,158 crore in the just-ended quarter, compared to a year ago.

HFCL Managing Director Mahendra Nahata noted that amid geo-political challenges, India stands out with its political stability and resilient economy, positioning itself as a prime investment destination.

"The technology and telecom sectors are going to play a vital role in achieving the country's vision of 'Viksit Bharat@2047'," he said.

The growing demand for high-speed internet, the expansion of 5G networks, FTTH (Fibre To The Home) implementation, hyper-scaling of data centres, advancements in Artificial Intelligence and Machine Learning, the PLI (production-linked incentive) scheme and the thrust on indigenous development and procurement of defence equipment, present substantial opportunities for the company both in domes