Finolex Cables reported a 28% year-on-year (y-o-y) increase in net profit, reaching Rs 186.9 crore, along with a 5% growth in revenues to Rs 1,357.8 crore for the September quarter.
In terms of volume, the sales of electrical wires remained flat, while the power cable sales grew by 40%. However, in the communication cables segment, the volumes of all products were subdued. Nevertheless, the introduction of new product categories contributed positively to the overall turnover in this segment.
The production trials at the preform facility are expected to be completed by the end of this calendar year, with commissioning to follow shortly thereafter.
The company said that metal prices remained stable during the quarter, initially dipping in July and August before rising again in September. In response, the company implemented appropriate pricing strategies in September to maintain margin stability and effectively respond to the volatility in metal prices.