Telecom Cables company HFCL announced Q2FY24 results: The order book stands at Rs 7,078 crore, up from Rs 5,280 crore in Q2FY23, indicating an increase in the order backlog. Revenue in Q2FY24 is Rs 1,111.49 crore, which represents an increase of 11.69% compared to Q1FY24. However, when compared to Q2FY23, there is a decrease of 5.28%. In Q2FY24, EBIDTA is Rs 149.77 crore, which reflects a decrease of 6.17% compared to Q1FY24 and a more substantial decrease of 14.22% compared to Q2FY23. EBIDTA margin for Q2FY24 is 13.47%, which is a decrease of 257 basis points (bps) from Q1FY24 and a decrease of 141 bps from Q2FY23. PAT for Q2FY24 is Rs 70.17 crore, which is lower 7.13% compared to Q1FY24 and 16.77% lower compared to Q2FY23. PAT margin for Q2FY24 is 6.31%, reflecting a decrease of 128 bps from Q1FY24 and a decrease of 87 bps from Q2FY23. On a standalone basis, the company reported quarterly revenue of Rs 1,001.76 crore, EBIDTA of Rs 131.85 crore, PBT of Rs 90.25 crore, and PAT of Rs 67.55 crore. Commenting on the Company’s performance, Mahendra Nahata, Managing Director, HFCL said, “Despite challenging macroeconomic conditions across different regions and also the uncertainties triggered by Global conflicts, the international monetary fund has revised the growth rate forecast to 6.3% for India due to its robust growth prospects. Indian telecom industry stands resilient and India has emerged as among the top three 5G ecosystems in the world within just a year from the start of the 5G rollout. As a prominent player in optical fiber cables, telecom and networking products, and network solution offerings, HFCL continues to demonstrate sustainable performance. During this quarter, the Company has witnessed a softening in demand for OFC and telecom and networking products from the telcos, resulting in a decline in product revenue both on a QoQ and YoY basis. The temporary decline is attributed to an inventory built-up with major operators, resulting in an overall reduction in revenue in absolute terms both domestically and in the international markets”. Result PDF