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Shares of Himachal Futuristics Communications soared nearly 10 per cent intra-day on Thursday on the back of excellent first quarter results with an over-two-fold jump in net profit.
The stock of the telecom infrastructure enabler which touched a month low of ₹18.4 on Tuesday, and made a gap-up opening on Thursday at ₹22 against the previous close of ₹20.2 on the BSE. After touching the day’s high of ₹22.2, the stock pared some gains to settle at ₹21.45, up 6.19 per cent on the BSE.
HFCL on Wednesday reported a net profit of ₹117 crore for the Q1 FY20 compared to a profit of ₹47 crore in the corresponding quarter last year and consolidated revenue at ₹1,343 crore (₹1,088 crore).
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