Polycab India surges 7% as net profit for September quarter doubles

The company reported net profit of Rs 194 crore in Q2FY20 against Rs 90 crore in a year ago quarter.

Shares of Polycab India surged 7 per cent to Rs 837 on the BSE on in the intra-day deals Thursday after the company's profit more-than-doubled to Rs 194 crore in September quarter (Q2FY20), on the back of strong revenue growth. It had logged profit of Rs 90 crore in the year-ago quarter.  At the time of writing of this report, the stock was trading at its highest level since listing on April 16, 2019.

Polycab India is engaged in the business of manufacturing and selling wires and cables (W&C) and fast moving electrical goods (FMEG) under the “POLYCAB” brand.