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Hot Pursuit News

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(24 May 2024, 12:54)

Finolex Cables hits record high after reporting positive Q4 numbers

Finolex Cables rallied 15.77% to Rs 1,325.30 after the company's consolidated net profit increased 6.34% to Rs 186.10 crore on 14.43% rise in revenue from operations to Rs 1,401.02 crore in Q4 FY24 over Q4 FY23.

Profit before tax jumped 9.57% to Rs 249.56 crore in Q4 FY24 as against Rs 227.76 crore in recorded in Q4 FY23.

Revenue from Electrical Cables segment stood at Rs 1,200.68 crore in Q4 FY24, up 16.37% YoY. Revenue from Communication Cables segment stood at Rs 127.95 crore in Q4 FY24, down 8.58% YoY. Revenue from Copper Rods segment stood at Rs 480.53 in Q4 FY24, up 24.42%.

In volume terms, Electrical Wires increased by 15% compared to Q4 of the previous year, while Cables improved by 50%. Within Communication Cables segment, most product lines increased in volume, by an average of 14%. Volumes in new products within the FMEG sector all showed a healthy growth from the corresponding quarter. While all products contributed to positive margins, Lighting products continued to be affecte...

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