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Polycab India Q3 consolidated PAT up 45% at Rs 360.8 cr

Wires and cables manufacturer Polycab India Ltd (PIL) on Thursday reported a 45 per cent growth in its consolidated profit after tax to Rs 360.8 crore for the October-December quarter of 2022-23 compared to the same period of the previous fiscal.

The company’s PAT stood at Rs 248.4 crore during the corresponding quarter of the previous financial year, Polycab India said in a statement.

Revenue from operations of the company grew by 10.17 per cent in the quarter under review to Rs 3,715.18 crore compared to Rs 3,371.99 crore in the same period of the previous fiscal.

“We continued our strong quarterly performance, registering the highest ever third quarterly revenues. Moreover, we achieved the highest ever quarterly PAT as well as the highest ever nine-months revenues and PAT in the history of the company,” Polycab India Chairman and Managing Director Inder T Jaisinghani said.

Being committed to the highest standards of corporate governance, the company has strengthened its board through the induction of two more directors, he said.

“The new board is more diverse, with 20 per cent representation of women directors, in-line with globally followed best-in-class corporate governance practices,” he added.

Polycab shares closed at Rs 2,829.55, up 2.79 per cent on BSE. PTI

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