The price of HFCL Ltd shares rose 3% during early trading on 10 March after the Indian Army awarded the business unit a contract worth Rs 44.36 crore.

The company’s material subsidiary HTL has been given a contract worth Rs 44.36 crore by the Indian Army to supply tactical optical fibre cable assemblies.

This locally produced system includes military-grade connections made for severe and demanding conditions, along with optical fibre cables that can support heavy loads from armoured vehicles.

In February, the company signed a deal with BSNL, the project implementation agency under the BharatNet Phase-III Program, to undertake a Rs 2,501.3 crore project in the Punjab Telecom Circle.

The company’s net profit decreased 10.4% to Rs 73.65 crore in the December quarter (Q3FY25) from Rs 82.24 crore in December 2023.

In January, the company secured advance purchase orders from Rail Vikas Nigam for BharatNet Phase III in Uttar Pradesh (East) Telecom Circle and Uttar Pradesh (West) Telecom Circle, totalling Rs 2,167.65 crore. 

These orders cover the supply of optical fibre cables, telecom equipment, and related accessories, as well as the maintenance of the telecom equipment for ten years, including a one-year warranty period.

At 3:30 pm, the shares of HFCL closed 4.75% lower at Rs 79.89 on NSE.

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