HFCL share price remained locked in the 5% lower circuit on Monday, 9 November, extending its recent decline despite the telecom equipment maker reporting its strongest-ever quarterly performance in Q2 FY27.
The stock has fallen 6.23% over the past week and 15.73% in the last two weeks. It has declined 21.14% over the past month and 1.01% in the past three months. However, the stock continues to trade significantly higher, with gains of 45.98% over six months and 199.10% on a year-to-date (YTD) basis.
The weakness comes despite a sharp improvement in the company's financial performance, with HFCL reporting a multi-fold increase in consolidated net profit for the September quarter, supported by strong demand for optical fibre cables from artificial intelligence (AI) data centres. The company has also outlined an ambitious growth outlook, backed by a sizeable order book and planned investments to expand manufacturing capacity.
HFCL reported a multi-fold jump in consolidated net profit to ₹394.22 crore in Q2 FY27, compared with approximately ₹72 crore in the corresponding quarter last year, according to its regulatory filing.
Consolidated revenue from operations more than doubled to ₹2,541.79 crore during the quarter, from ₹1,043.34 crore in the year-ago period. The company's profit after tax (PAT) margin also expanded sharply to 14.36% from 2.23% a year earlier.