Finolex Cables reports 17% growth in value terms

Finolex Cables announced Q2FY23 results:

Q2FY23 vs Q2FY22:

• Revenues in Q2FY23 were Rs 1,090.8 crore as against Rs 932.9 crore in Q2FY22, representing a 17% growth in value terms. In volume terms, Electrical Cables increased by 10%, while within Communication Cables segment, volume of metal-based products improved by 24% during the quarter and Optic Fiber Cable volumes grew by over 100% during the quarter.
• Profit for the quarter, after taxes, was Rs 136.7 crore, as compared to Rs 149.7 crore in the previous year, lower by 8%.

H1FY23 vs H1FY22:

• Revenues in H1FY23 were Rs 2,106.5 crore as against Rs 1,608.3 crore for the corresponding H1FY22, representing a 31% growth in value terms. In volume terms, Electrical Cables increased by 14%, while within the Communication Cables segment, the volume of metal-based products improved by 19% and Optic Fiber Cable volumes grew by over 100% during the half year.
• Profit, after taxes for the six months that ended on September 2022 was Rs 232.3 crore as against Rs 204.8 crore in the corresponding period of 2021-22, higher by 13%.

CT Bureau