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HFCL Ltd.’s shares fell as much as 8.56%, the steepest intraday decline in four weeks, to Rs 88.1 apiece after it reported sequential decline in consolidated net profit in quarter-ended December.

December Quarter Results (Consolidated, QoQ)

• Net profit fell 5.81% QoQ to Rs 81.10 crore.

• Revenue up 8.29% QoQ to Rs 1,215.21 crore.

• EBITDA margin fell 110 bps to 14.32%

• The company planned to expand capacity of Optical Fibre and Optical Fibre cable to 22 mfkm/p.a and o 34.75 mfkm/p.a respectively with a cumulative investment of Rs 425 crore

Trading volume on the stock was 2.2 times the 30-day average volume, at this time of the day.

Source: Exchange Filing, Bloomberg