Finolex Cables net profit rises 39% to Rs 132.2 cr in Q1, revenue up 19%

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Illustration: Ajay Mohanty

Electrical and communication cable manufacture Finolex Cables on Monday reported a 39 per cent rise in its web revenue at Rs 132.2 crore within the April-June quarter.

The corporate had reported a web revenue of Rs 95.6 crore within the trailing 12-month interval.

The Pune-headquartered firm in an announcement mentioned its income for the quarter rose 19 per cent to Rs 1,204.3 crore from Rs 1,015.7 crore recorded within the corresponding interval of FY23.

In quantity phrases, its flagship electrical wires rose 29 per cent, whereas energy cables elevated 3 per cent. Inside the communication cables section, quantity of metal-based merchandise improved 17 per cent throughout the quarter and optical fiber cable quantity grew 50 per cent.

Quantity progress in new merchandise inside the FMEG (fast paced electrical items) section was marginal on account of continued inflationary pressures affecting client sentiment, the corporate added.

The growth plans below which it’s organising a preform facility, OFC capability growth and E-beam facility are on observe. The E-beam facility is predicted to be operational within the fourth quarter of this 12 months whereas the others are anticipated to go reside early subsequent 12 months, it added.

Aside from providing a variety {of electrical} and communication cables, Finolex can be into wires and cable merchandise utilized in functions resembling cars, lighting, cable TV, telephones and computer systems. Of late Finolex has additionally acquired into electrical switches, LED lamps, followers, low-voltage MCBs, water heaters and electrical irons.

(Solely the headline and film of this report might have been reworked by the Enterprise Customary workers; the remainder of the content material is auto-generated from a syndicated feed.)

First Revealed: Aug 14 2023 | 4:00 PM IST

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