HFCL shares tumble almost 9{bce2ac57dae147ae13b811f47f24d80c66c6ab504b39dda4a9b6e8ac93725942} publish earnings after 4.7{bce2ac57dae147ae13b811f47f24d80c66c6ab504b39dda4a9b6e8ac93725942} decline in Q3

Shares of home telecom gear maker HFCL on Tuesday tumbled almost 9 per cent after the corporate posted 4.7 per cent decline in consolidated revenue for the third quarter ended December 31, 2021.

The inventory declined 8.60 per cent to Rs 88.10 on the BSE.

On the NSE, it tumbled 8.56 per cent to Rs 88.10.

HFCL on Monday posted 4.7 per cent decline in consolidated revenue to Rs 81.1 crore for the third quarter ended December 31, 2021 primarily on account of hike in element costs, specifically semiconductors.

The corporate had posted a revenue after tax of Rs 85.11 crore in the identical interval a yr in the past.

Income declined 4.86 per cent in the course of the quarter to Rs 1,215.21 crore in comparison with Rs 1,277.48 crore it posted in the identical quarter of 2020-21.

“Though the demand within the economic system is coming again step by step, we had a robust quarter with development in revenues. The margins in the course of the quarter obtained barely impacted adopted by elevated logistic prices and improve in fiber and semiconductor costs,” HFCL Managing Director Mahendra Nahata stated in an announcement.

(Solely the headline and movie of this report could have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)

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