Finolex Cables Ltd Results
Hyderabad, February 2023 Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the third quarter of the financial year 2022-23.
Revenues for the quarter that ended December 2022 were Rs.1150.3 Cr as against Rs.972.9 Cr for the corresponding period in the year 2021-22, representing an 18% growth in value terms. In volume terms, Electrical Wires increased by 24%, while within the Communication Cables segment, the volume of metal-based products improved by 40% during the quarter and Optic Fiber Cable volumes grew by over 100% during the quarter. Volume growth in new products within the Appliance/FMEG sector was flat and generally affected by inflationary pressures as well as subdued consumer sentiment.
Revenues for the nine months period ended December 2022 were Rs.3256.8 Cr as against Rs.2581.3 Cr for the corresponding period of 2021-22, representing a 26% growth in value terms. In volume terms, Electrical Wires increased by 20%, while within the Communication Cables segment, the volume of metal-based products improved by 27% and Optic Fiber Cable volumes grew by over 70% during the period.
Profit for the quarter, after taxes, was Rs.134.9 Cr, as compared to Rs.95.2 Cr in the previous year, higher by 42%. Profit, after taxes, for the nine months ended December 2022 was Rs.367.2 Cr as against Rs.300.0 Cr in the corresponding period of 2021-22, higher by 22%.