HFCL Q2 Results October 19, 2026: Profit Jumps 448% to ₹394 Crore, Growth Guidance Raised to 80%

HFCL Q2 results were the kind that move a stock in minutes, and on Monday they did. The optical fibre and telecom equipment maker reported consolidated profit after tax of ₹394.22 crore for the July-September quarter, up 448.14% from ₹71.92 crore a year ago, according to its board meeting outcome and press release filed with BSE on October 19, 2026. Revenue more than doubled. The company also told investors it now expects FY27 revenue to grow by at least 80% over FY26.

HFCL Q2 results: the headline numbers

All figures are consolidated, for the quarter ended September 30, 2026, from the company’s filing.

• Revenue from operations: ₹2,541.79 crore, up 143.62% from ₹1,043.34 crore in Q2 FY26 and up 32.73% from ₹1,914.98 crore in the June quarter.
• EBITDA: ₹658.00 crore, up 223.55% year-on-year from ₹203.37 crore. The EBITDA margin was 25.89%, against 19.49% a year ago and 23.25% in Q1.
• Profit before tax: ₹538.60 crore, up 406.49% from ₹106.34 crore.
• Profit after tax: ₹394.22 crore, up 448.14% year-on-year and 60.49% from ₹245.64 crore in the June quarter. The share belonging to HFCL’s own shareholders, after minority interests, was ₹362.91 crore.
• First half (April-September): revenue of ₹4,456.77 crore against ₹1,914.36 crore, and profit after tax of ₹639.86 crore against ₹42.62 crore.

Reports differ slightly. CNBC-TV18 puts quarterly net profit at ₹363 crore, which is the owners’ share. The ₹394 crore figure also includes minority shareholders’ portion in subsidiaries.

What is driving the jump

HFCL credits demand from AI infrastructure, hyperscale data centres and telecom networks, and says orders from international hyperscalers and telecom operators are turning into firm contracts. Its order book stood at ₹28,911 crore, which the company says gives it revenue visibility of six to seven years and beyond.

The margin story matters as much as the growth. EBITDA grew far faster than revenue, so the extra volume came with better pricing or mix, not just more shipments. A 640 basis point margin gain in a year is a big move for a cable business.

Guidance: from 20% to at least 80%

This is the part the market latched on to. Managing Director Mahendra Nahata told CNBC-TV18 that at the start of the year the company expected about 20% revenue growth. It now expects at least 80%, which he said works out to around ₹9,000 crore of revenue in FY27, mostly because export demand linked to data centre build-outs has picked up. For FY28, he estimated 20-25% growth, but said clearly that this was an estimate, not formal guidance.

The company had earlier set ₹10,000 crore of revenue as a goal for FY29 and now says it could get there much sooner. To support that, it plans to invest about ₹1,800 crore across optical fibre, cable and preform manufacturing. The defence and aerospace business is targeting about ₹500 crore of revenue in FY27, and HFCL expects to complete its ongoing aerospace acquisition during the current quarter.

How the stock reacted

The board met between 11:00 and 11:40 am, so the numbers landed during trading hours. According to The Economic Times, the stock hit its 5% upper circuit at ₹268.70 on BSE, and CNBC-TV18 reported an NSE close of ₹268.81. A circuit caps the day’s move, so Monday’s price may not show the full reaction. Our explainer on price band hitters on NSE covers how those limits work.

Our take: a jump this size off a low base always looks dramatic, so guidance and the order book matter more. If HFCL can hold margins near 25% while scaling up capacity, the numbers stand on their own. If export pricing cools, the 80% target will be tested quickly.

For the rest of Monday’s line-up, see Q2 results today, October 19. And our guide on how to analyse quarterly results explains how to read consolidated profit, minority interest and margins side by side.

Disclaimer: This article is for information only and is not investment advice or a recommendation to buy or sell any security. Figures are from HFCL’s Q2 FY27 filing with BSE and reports by The Economic Times and CNBC-TV18, all linked above. Please consult a SEBI-registered investment adviser before making any investment decision.