HFCL Ltd gained nearly 2 percent in morning trade on Tuesday after the company announced that it has received purchase orders of Rs 95.38 crore from Reliance Projects and Property Management Services Ltd. As part of the purchase orders, HFCL, along with its material subsidiary HTL Ltd, will supply optical fibre cables to one of the leading private telecom operators India, the company said in a filing to the exchanges on Monday.

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The order will be executed by February 2023.

HFCL is a leading manufacturer and supplier of high-end telecom equipment, optic fibre and optic fibre cable. The Delhi-based company is engaged in telecom infrastructure development and provides turnkey solutions to telecom operators.

In November, the company had received a contract aggregating to Rs 1,770 crore, from State Water and Sanitation Mission, Uttar Pradesh, for providing EPC services, including provision for laying of optical fibre cables, for execution of rural water supply network in Varanasi Revenue Division in the state.

The contract value for material and services was Rs 1,414 crore and Rs 356 crore was allocated for operation and maintenance services. HFCL was developing these aforesaid projects with JWIL Infra Ltd as a consortium partner.

In the quarter ending September 2022, HFCL reported net sales of Rs 1,173.47 crore, up 4.58 percent from Rs 1,122.05 crore in the year-ago quarter. The company’s net profit increased marginally to Rs 81.86 crore in Q2FY23 compared to Rs 81.61 crore in Q2FY22.

Shares of HFCL Ltd were trading at Rs 77.05, up 1.92 percent, on BSE at 2:04 pm on Tuesday.

(Edited by : Anshul)