NEW DELHI: Shares of domestic telecom gear maker HFCL on Tuesday tumbled over 7 per cent after the company posted a 4.7 per cent decline in consolidated profit for the third quarter ended on December 31, 2021.
The stock tanked 7.31 per cent to settle at Rs 89.35 on the BSE. During the day, it declined 8.60 per cent to Rs 88.10. At the NSE, it tumbled 7.42 per cent to settle at Rs 89.20.
In volume terms, 91.18 lakh shares were traded at the BSE and over 5.77 crore at the NSE during the day. HFCL on Monday posted a 4.7 per cent decline in consolidated profit to Rs 81.1 crore for the third quarter ended December 31, 2021 mainly on account of hike in component prices, specially semiconductors.
Revenue declined by 4.86 per cent during the quarter to Rs 1,215.21 crore compared to Rs 1,277.48 crore it posted in the same quarter of 2020-21.
"The margins during the quarter got slightly impacted followed by increased logistic costs and increase in fiber and semiconductor prices," HFCL Managing Director Mahendra Nahata said in a statement.