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Wires and cables maker Polycab India Ltd on Thursday reported a marginal decline in consolidated net profit to Rs 401.62 crore in the June 2024 quarter, impacted by higher expenses. The company had posted a consolidated net profit of Rs 403.16 crore in the same period last fiscal, Polycab India said in a regulatory filing. Consolidated revenue from operations stood at Rs 4,698 crore in the first quarter as against Rs 3,889.38 crore in the year-ago period, it added. Total expenses were higher at Rs 4,223.06 crore compared to Rs 3,422.88 crore in the same period of the previous fiscal, the company said. The wires and cables segment clocked a revenue of Rs 3,942.12 crore in the first quarter, up from Rs 3,553.77 crore a year ago. The fast moving electric goods (FMEG) segment had a revenue of Rs 385.49 crore over Rs 314.54 crore in the corresponding period in FY24, the company said.
Financial Services company Capital Group on Thursday sold shares of electrical goods company Polycab India for Rs 337 crore through an open market transaction. US-based Capital Group through its affiliate SmallCap World Fund Inc offloaded shares of Polycab India on the National Stock Exchange (NSE). According to the bulk deal data with the NSE, SmallCap World Fund Inc disposed of 8,51,003 shares of Polycab India. The shares were offloaded at an average price of Rs 3,955.87 apiece, taking the deal value to Rs 336.64 crore. Details of the buyers could not be ascertained. On Thursday, the scrip of Polycab India nosedived 20.50 per cent to close at Rs 3,904.70 per piece on the NSE.
Electrical goods company Polycab India on Friday reported a 31.68 per cent growth in consolidated profit after tax (PAT) during the quarter ending March 31, at Rs 428.41 crore compared to the same period of the previous financial year. The company's PAT stood at Rs 325.33 crore during the corresponding period of the previous fiscal, Polycab India said in a regulatory filing. Revenue from operations of the company increased by 8.90 per cent at Rs 4,323.68 crore during the quarter under review compared to Rs 3,969.98 crore in the same period of the previous fiscal. In FY23, the PAT of the company witnessed 51.70 per cent growth at Rs 1,282.25 crore compared to Rs 845.23 crore in the previous fiscal. Revenue from operations of the company in FY23 grew by 15.60 per cent to Rs 14,107.77 crore compared to Rs 12,203.76 crore in the previous financial year. FY23 was a remarkable year for the company, as we surpassed revenues of Rs 14,000 crore and profitability threshold of Rs 1,000 crore,
Wires and cables manufacturer Polycab India on Tuesday reported a 20 per cent year-on-year rise in net profit to Rs 325.33 crore for the fourth quarter ending March 31. The company's net profit was Rs 271.06 crore in the year-ago quarter, Polycab India said in a BSE filing. Revenue from operations during the quarter under review increased 34.90 per cent to Rs 3,969.98 crore compared to Rs 2,942.74 crore a year ago. For FY22, the company's net profit rose marginally by 3.53 per cent to Rs 917.28 crore compared to Rs 885.93 crore in FY21. In 2020-21, revenue from operations surged 38.80 per cent to Rs 12,203.76 crore from Rs 8,792.23 crore in FY21. "Our strong performance in fiscal year 2022 was underpinned by the extraordinary efforts of our team to achieve new milestones even in one of the most uncertain environments. We delivered accelerated business growth, record free cash flow, healthy returns on capital and market-leading shareholder returns. "We will champion our renewed pu