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Himachal Futuristic (HFCA)

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Wednesday 05 February, 2003

Himachal Futuristic

3rd Quarter Results

Himachal Futuristic Comms.Ld
31 January 2003


Letter to RNS

Sub: Unaudited Financial Results for the 3rd Quarter ended 31st December 2002

The Un-Audited Financial Results for the Third Quarter ended 31st December 2002
have been taken on record by the Board of Directors of the Company at their
meeting held on 31st January 2003. A copy of the aforesaid results is as 
follows:

Arrangements have also been made for publication of the Un-Audited Results in
the newspaper pursuant to clause 41 of the Listing Agreement.


Letter from Himachal Futuristic Communications Limited


UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED 31ST DECEMBER 2002

                                                                                                        (Rs. in Crores) 
                                                                                                           Financial  
                                                        Third Quarter Ended        Nine Months Ended      Year Ended
                                                           31st December             31st December         31st March
Sl                                                      2002           2001        2002         2001          2002
No. Particulars                                      (Unaudited)   (Unaudited)  (Unaudited)  (Unaudited)   (Audited)

 1.  Net Turnover/Income from Operations              186.13        229.17       570.91        611.42       889.28 
     
 2.  Other Income                                       5.24          3.63        13.90         11.43        17.72

 3.  Total Expenditure                                151.38        192.70       457.91        512.55       765.34
    a (Increase)/Decrease in stock in trade             7.02        (11.01)       14.55         (8.14)       10.91
    b Consumption of Raw Material                     114.20        150.91       359.56        398.38       566.27
    c Staff Cost                                        8.92          7.38        23.45         21.92        30.84
    d Labour and service charges to sub contractors     4.44         27.92        15.68         60.93        79.79
    e Provision for diminution in value of investments     -             -            -             -        15.67
    f Bad Debts written off                                -             -            -             -         2.63
    g Administrative and other Overheads               16.80         17.50        44.67         39.46        59.23
  
 
 4. EBITDA                                             42.30         41.26       133.51        113.80       147.04

 5. Interest and Finance Charges                       25.37         17.48        79.56         44.54        64.05

 6. Depreciation                                        6.49          6.41        19.03         17.74        25.60
  
 7. Profit before Tax (1+2-3-5-6)                       8.13         16.21        28.31         48.02        52.01

 8. Provision for Taxation
    -Current Tax                                        1.50          0.80         3.08          3.75         4.00
    -Deferred Tax                                      (0.00)         0.92         3.15          3.35         6.43

 9. Net Profit (7-8)                                    6.63         14.49        22.08         40.92        41.58

10. Paid-up Equity Share Capital                      133.22         78.82       133.22         78.82        78.82 
     (Face value of Rs 10 each)     

11. Reserves excluding Revaluation Reserve                 -             -            -             -     2,246.02

12. Earning per Share(Rs.)  - Basic                     0.29          1.84         1.33          5.19         3.83
                            - Diluted                   0.28          1.84         1.31          5.19         3.83


 

Segmentwise Revenue, Results and Capital Employed

                                                                                  (Rs. in Crores)
                                                 Third Quarter      Nine Months   Financial Year
                                                  Ended 31st         Ended 31st     Ended 31st
                                                   December           December        March
                                                 2002     2001     2002     2001       2002


Segment Revenue 
                               
a. Telecom Products                            103.04   140.44   333.64   380.80     587.46 
b. Turnkey Contracts and Services               79.09    82.75   227.77   222.39     291.59     
c. Others                                        4.00     5.98     9.50     8.23      10.23

                                       Total   186.13   229.17   570.91   611.42     889.28

Less: Inter segment revenue                         -        -        -        -          -
                                                     
        Net Turnover/Income from Operations    186.13   229.17   570.91   611.42     889.28     

Segment Results

a. Telecom Products                             13.27    18.55    49.91    50.01      77.01
b. Turnkey Contracts and Services               21.64    17.57    58.64    43.92      57.16
c. Others                                        1.67     1.95     4.09     4.16       6.06

                                       Total    36.58    38.07   112.64    98.09     140.23


Less: i.  Interest and Finance charges          25.37    17.48    79.56    44.54      64.05
      ii. Other un-allocable expenditure net 
          off un-allocable income                3.08     4.38     4.77     5.53      24.17

Profit before Tax                                8.13    16.21    28.31    48.02      52.01     


Capital Employed

a. Telecom Products                            686.05   651.17   686.05   651.17     677.50
b. Turnkey Contracts and Services              320.83   136.11   320.83   136.11     144.60
c. Others                                       60.90    57.62    60.90    57.62      56.02

        Total capital employed in segments   1,067.77   844.90 1,067.77   844.90     878.12

Add: Un-allocable corporate assets less 
     liabilities                             1,554.21 2,348.35 1,554.21 2,348.35   1,501.47    

        Total capital employed in Company    2,621.98 3,193.25 2,621.98 3,193.25   2,379.59


Notes:

1. The above results have been taken on record by the Board of Directors at its  
   meeting held on 31st January 2003.

2. It is proposed to amalgamate HFCL Trade Invest Limited, a wholly owned
   subsidiary of the Company, with the Company w.e.f. 31.03.2003. Another
   subsidiary of the Company viz HFCL Infotel Limited is also proposed to be
   amalgamated with The Investment Trust of India Ltd. w.e.f. 01.09.2002.

3. Company on 5th December 2002, allotted 660 2% Foreign Currency Convertible
   Bonds (FCCB), comprising 330 A Bonds of USD 50000 each fully paid and 330 B
   Bonds of USD 50000 each with 10% paidup value, aggregating to USD 33 million.

4. Figures of the previous periods have been regrouped/rearranged wherever
   considered necessary.

Place : New Delhi
Date  : 31st January 2003.


                      This information is provided by RNS
            The company news service from the London Stock Exchange                                        

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