FINOLEX CABLES LIMITED PRESS RELEASE
FINOLEX CABLES LTD RESULTS
Pune, February 9th, 2022
Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the third quarter of the financial year 2021-22.
After a promising start to the quarter, continued volatility of commodity prices, increasing inflation and the fear of a third wave following the Omicron outbreak resulted in overall business sentiments being muted and volumes not picking the pace which the previous quarter had indicated.
Revenues for the quarter ended 31st December 2021 were Rs.972.9 Cr as against Rs.830.2 Cr for the corresponding period in the year 2020-21, representing a 17% growth overall. Electrical Cables & Wires showed a growth of 19%, while Communication Cables was impacted by falling fiber prices. Optic Fiber Cable volumes grew by over 80% during the quarter. New products within the FMEG sector all grew by between 44% in value.
Revenues for the nine-month period ending 31st December 2021were Rs.2581.3 Cr as against Rs.1846.8 Cr in the corresponding period of the previous year, representing a 40% growth overall. All product lines grew in revenue during this period by upwards of 35%.
Profit for the quarter, after taxes, was Rs.95.2 Cr, as compared to Rs.82.7 Cr in the previous year, an improvement of 15%. For the nine-month period, profit after taxes, was Rs.300 Cr as against Rs.186.8 Cr in the previous year.
Finolex Cables Limited is India’s largest and leading manufacturer of Electrical and Communication cables. Finolex offers a wide range of Electrical and Communication cables. Its wire and cable products are used in applications such as automobile, lighting, cable TV, telephone and computers to industrial applications touching every person in his daily life. Finolex has added Electrical Switches, LED based Lamps, Fans, low voltage MCBs and Water Heaters to its range of products.
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