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Business EconomyPosted at: Aug 12 2024 9:00PM


Finolex Cables PAT down 7 pc at Rs 122 Cr in Q1FY25

Hyderabad, Aug 12 (UNI) Finolex Cables Ltd., (FCL) , India's largest and leading manufacturer of Electrical and Communication cables, on Monday reported a 7 percent decrease in its net profit at Rs 122.5 crore for the first quarter of the financial year 2024-25 as compared to Rs 132.3 crores in the corresponding period in the previous year.
Revenues from operation during the quarter stood at Rs.1230.5 crore as against Rs.1204.3 crore for the corresponding period in the previous year, representing a 2 per cent growth in value terms, the Pune-based company said in a release.
In volume terms, Electrical Wires were flat, while Power Cables increased by 20 per cent. Within the Communication Cables segment, volume of metal-based products was down by 8 percent during the quarter while, Optic Fiber Cable volumes grew by 10 percent.
Volume growth in all new product categories was significant and reflected in the overall turnover from this segment.
The steep fall in copper prices from the end of May 2024, extreme heat in the summer as well as the General Elections during the quarter impacted business sentiments and consequently sale of Electrical Wires, the release said.
Selling price corrections were taken in June 2024, which impacted margins negatively.
The Company's expansion plans are on track; the E-Beam facility is ready for operation, with only regulatory permissions pending; the Preform Facility is at an advanced stage of completion and is expected to be commissioned towards the latter part of this fiscal, the release added.
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Tags: #Finolex Cables PAT down 7 pc at Rs 122 Cr in Q1FY25
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