Finolex Cables Ltd. announces a 6-percent revenue growth in FY19

Revenues of Finolex Cables Limited for the quarter ended March 2019 were Rs 8216.9 million as against Rs 7992.0 million for the corresponding period in the year 2017-18, representing a 3-percent growth in value terms. In volume terms, electrical wires grew by 18 percent, while power cables de-grew marginally. Within communication cables segment, volumes in optic fiber cables de-grew owing to delays in orders from both the government sector as well as sluggishness from private telecom companies.

Other communication products, which are sold through dealer network, however, saw volume growth of over 15 percent. New products within the FMEG sector all grew by more than 10 percent each. The positive impact of GST is quite visible now.

For the full year 2018-19, sales were Rs 30825.8 million as against Rs 29028.4 million in the previous year with a 6-percent revenue growth. Except for power cables and optic fiber cables, all other product lines showed a healthy volume growth. Profit for the quarter, before taxes, was Rs 1399.4 million, as compared to Rs 1276.8 million in the previous year – growth of 10 percent. For the full year, profit before taxes improved to Rs 5318.6 million from Rs 5044.8 million in the previous year – a growth of 5.5 percent.

For the year ended March 31, 2019, the consolidated results reflect net sales of Rs 30,825.8 million as against Rs 29,028.4 million in the previous year and profit before taxes of Rs 6102.2 million as against Rs 5491.4 million in the previous year.