The Hindu Business Line : HFCL net profit at Rs 18.2 cr

Himachal Futuristic Communications Ltd (HFCL) has reported a net profit of Rs 18.25 crore for the quarter ended June 30 compared to a loss of Rs 19.05 crore during the corresponding quarter previous year. The company's turnover went up by 81.44 per cent to Rs 223.68 crore. Mr Mahendra Nahata, Managing Director, HFCL, said, "HFCL continues its good performance in the first quarter of the current financial year. All the performance parameters are showing upward trend compared to the last quarter of the previous financial year. HFCL's balance sheet has been totally restructured, with the company having taken a one-time charge in the last quarter of financial year 2006. As a result, the balance sheet size has been reduced, and coupled with increased profitability, the Return on Net Worth is projected to reach 35 per cent in the current financial year." The management's focus on cost control is also yielding results as is evident from the results. HFCL's margins continue to improve consequent to the cost control measures, said a press release. The company's share price on the Bombay Stock Exchange went up by 1.9 per cent to close at Rs 26.25 per share.

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