HFCL Q2 FY27 Results: Consolidated Net Profit ₹394 Crore on Total Income of ₹2,569 Crore
Earnings
Telecom Equipment
Blacklitt Research3 min read
Petiatil, via Wikimedia Commons (public domain). Illustrative image.
HFCL reported consolidated total income of ₹2,569.25 crore and net profit of ₹394.22 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹2,203.06 crore and net profit was ₹268.02 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹2,569 crore, up 143.2% YoY, up 32.0% QoQ
Net profit: ₹394 crore, up 448.1% YoY, up 60.5% QoQ
EPS: ₹2.37, against ₹0.47 in Q2 FY26
EBITDA: ₹658.00 crore, up 223.55% YoY, at a margin of 25.89%
Standalone
The company on its own, without its subsidiaries
Total income: ₹2,203 crore, up 116.4% YoY, up 34.3% QoQ
Net profit: ₹268 crore, up 336.2% YoY, up 49.6% QoQ
EPS: ₹1.75, against ₹0.42 in Q2 FY26
Order book: over ₹28,900 crore, with FY27 revenue growth guided at least 80%
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,569.25
1,056.38
+143.2%
1,946.13
+32.0%
Revenue from operations
2,541.79
1,043.34
+143.6%
1,914.98
+32.7%
Other income
27.46
13.04
+110.6%
31.15
-11.8%
394.22
71.92
+448.1%
245.64
+60.5%
Finance costs
65.34
60.90
+7.3%
62.48
+4.6%
Depreciation
53.72
35.93
+49.5%
51.25
+4.8%
Tax expense
144.38
34.42
+319.5%
85.88
+68.1%
Net profit margin
15.34%
6.81%
+8.54 pp
12.62%
+2.72 pp
Tax as share of profit before tax
26.8%
32.3%
-5.52 pp
25.9%
+0.89 pp
EPS, basic (₹)
2.37
0.47
+404.3%
1.49
+59.1%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Revenue is 2.4 times last year's and profit about 5.5 times. Revenue from operations rose 143.6% to ₹2,541.79 crore and net profit 448.1% to ₹394.22 crore, a margin of 15.34% against 6.81%. The company reports EBITDA of ₹658.00 crore, up 223.55% with a margin of 25.89% against 19.49%, a rise of 640 basis points, and profit before tax of ₹538.60 crore, up 406.49%. The scale gain flows through because finance costs rose only 7.3% to ₹65.34 crore and depreciation 49.5% to ₹53.72 crore. Tax took 26.8% of profit before tax against 32.3%.
Against June revenue rose 32.7% and profit 60.5% from ₹245.64 crore. For H1 FY27 revenue is ₹4,456.77 crore against ₹1,914.36 crore, profit before tax ₹870.12 crore against ₹61.64 crore and profit after tax ₹639.86 crore against ₹42.62 crore. The company says the order book is ₹28,911 crore, supported by demand from AI infrastructure, hyperscale data centres and telecom networks, and that it expects FY27 revenue growth of at least 80% over FY26. It plans an investment of about ₹1,800 crore across optical fibre, cable and preform manufacturing, and says defence and aerospace is on track towards revenue of about ₹500 crore in FY27. These are the company's statements.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
2,203.06
1,018.20
+116.4%
1,640.34
+34.3%
Revenue from operations
2,177.76
1,003.13
+117.1%
1,607.80
+35.4%
Other income
25.30
15.07
+67.9%
32.54
-22.2%
268.02
61.44
+336.2%
179.21
+49.6%
Finance costs
56.33
52.97
+6.3%
53.21
+5.9%
Depreciation
44.24
31.41
+40.8%
43.02
+2.8%
Tax expense
90.49
28.27
+220.1%
60.91
+48.6%
Net profit margin
12.17%
6.03%
+6.13 pp
10.93%
+1.24 pp
Tax as share of profit before tax
25.2%
31.5%
-6.27 pp
25.4%
-0.13 pp
EPS, basic (₹)
1.75
0.42
+316.7%
1.17
+49.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The standalone company earns about two thirds of the group's profit. Standalone net profit was ₹268.02 crore (+336.2%) on revenue from operations of ₹2,177.76 crore (+117.1%), and the net margin 12.17% against 6.03%. Tax took 25.2% of profit before tax against 31.5%. The group earns ₹126 crore more than the company on its own (derived), so subsidiaries add to profit.
Standalone earnings per share were ₹1.75 against ₹0.42, and consolidated ₹2.37 against ₹0.47. Segment results in the scanned table are partly illegible and are not quoted.
Inference
HFCL's revenue grew about 2.4 times and profit about 5.5 times, with operating margin about 6 points higher, and the company guides FY27 revenue growth of at least 80%.
The guidance and the ₹28,911 crore order book are the company's statements, and the filing does not give the order delivery schedule or the funding for the planned ₹1,800 crore investment.
Create a free account to read the rest of this article and the analysis that follows.
By continuing you agree to our Terms and Privacy Policy, and to receive updates from Blacklitt by email. You can unsubscribe anytime.
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
