Business EconomyPosted at: Aug 12 2024 4:24PM

Finolex Cables profit down 7 pc to Rs 122.5 cr in Q1

New Delhi, Aug 12 (UNI) Electrical and communication cables manufacturer Finolex Cables Ltd on Monday reported 7% year-on-year decline in net profit to Rs 122.5 crore for April-June quarter (Q1) of the current financial year 2024-25.
The company had posted a net profit of Rs 132.3 crore in the Q1 of previous financial year 2023-24.
The cable manufacturer's revenues for the quarter ended June 2024 were Rs 1230.5 crore as against Rs 1204.3 crore for the corresponding period in year 2023-24, representing a 2% growth in value terms.
"In volume terms, electrical wires were flat, while power cables increased by 20%. Within communication cables segment, volume of metal-based products was lower by 8% during the quarter while, optic fiber cable volumes grew by 10% during the quarter. Volume growth in all new product categories was significant and reflected in the overall turnover from this segment," Finolex said in a media release.
It further said, "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. Selling price corrections were taken in June 2024, which impacted margins negatively."
UNI NK GNK

Please log in to get detailed story.

Tags: #Finolex Cables profit down 7 pc to Rs 122.5 cr in Q1

Garuda Aerospace partners with Agrowing

11 Sep 2024 | 6:32 PM

Bengaluru, Sep 11 (UNI) Garuda Aerospace, an IPO-bound Indian drone technology company, has partnered with Agrowing, a global leader in sensor and imagery technology with a focus on precision agriculture, to enhance aerial precision agriculture in India using advanced deep learning and artificial intelligence.

Finolex Cables profit down 7 pc to Rs 122.5 cr in Q1

Telangana become first state to support companies to improve their technology: Spl CS Ranjan

Union Cabinet approves health coverage to all senior citizens of age 70 and above

Brigade Group forays into Hyderabad with launch of workspace solution ‘BuzzWorks’

Garuda Aerospace partners with Agrowing

Sensex down 398 13 pts

JAMMU, SEP 11 (UNI):- BJP leadership felicitating Yudhvir Singh Charak on his selection for Indian team in Jammu on Wednesday. UNI PHOTO-164U

BHUBANESWAR, SEP 11 (UNI):- Odisha Chief Minister Mohan Charan Majhi at Building and Other Construction Workers’ Welfare conference at Lokseva Bhawan, in Bhubaneswar on Wednesday. UNI PHOTO-163U

NEW DELHI, SEP 11 (UNI):- Union Minister of Panchayati Raj and Fisheries, Animal Husbandry and Dairying, Rajiv Ranjan Singh alias Lalan Singh in a group photograph at the 4th Anniversary of Pradhan Mantri Matsya Sampada Yojna, in New Delhi on Wednesday. UNI PHOTO-162U

JAMMU, SEP 11 (UNI):- The Anti-Corruption Bureau team scrutinising the land record during a raid in Jammu on Wednesday. UNI PHOTO-161U

NEW DELHI, SEP 11 (UNI):- Union Minister of Panchayati Raj and Fisheries, Animal Husbandry and Dairying, Rajiv Ranjan Singh alias Lalan Singh addressing at the 4th Anniversary of Pradhan Mantri Matsya Sampada Yojna, in New Delhi on Wednesday. UNI PHOTO-160U

NEW DELHI, SEP 11 (UNI):- Union Minister of State for Minority Affairs and Fisheries, Animal Husbandry and Dairying, George Kurian addressing at the 4th Anniversary of Pradhan Mantri Matsya Sampada Yojna, in New Delhi on Wednesday. UNI PHOTO-159U

BHUBANESWAR, SEP 11 (UNI):- BJD party Supremo Naveen Patnaik at party youth wing Biju Yuba Janata Dal (BYJD) district level functionary organisational meeting program at party office Sankha Bhawan, in Bhubaneswar on Wednesday. UNI PHOTO-156U

BHUBANESWAR, SEP 11 (UNI):- BJD party Supremo Naveen Patnaik at party youth wing Biju Yuba Janata Dal (BYJD) district level functionary organisational meeting program at party office Sankha Bhawan, in Bhubaneswar on Wednesday. UNI PHOTO-155U

HAZARIBAGH, SEP 11 (UNI):- Police personnel stand guard during raid at Hazaribagh SDO (Sub Divisional Officer) Shailesh Sinha’s residence by Anti-Corruption Bureau (ACB) in Hazaribgh, Jharkhand on Wednesday. UNI PHOTO-152U

NEW DELHI, SEP 11 (UNI):- Baramulla MP Rashid Engineer addressing a press conference after being released from Tihar jail on interim bail by Delhi's special NIA court in a terror funding case, in New Delhi on Tuesday. UNI PHOTO PSB4U

NEW DELHI, SEP 11 (UNI):- Baramulla MP Rashid Engineer addressing a press conference after being released from Tihar jail on interim bail by Delhi's special NIA court in a terror funding case, in New Delhi on Tuesday. UNI PHOTO PSB3U

NEW DELHI, SEP 11 (UNI):- Baramulla MP Rashid Engineer addressing a press conference after being released from Tihar jail on interim bail by Delhi's special NIA court in a terror funding case, in New Delhi on Tuesday. UNI PHOTO PSB2U

NEW DELHI, SEP 11 (UNI):- Baramulla MP Rashid Engineer addressing a press conference after being released from Tihar jail on interim bail by Delhi's special NIA court in a terror funding case, in New Delhi on Tuesday. UNI PHOTO PSB1U

NEW DELHI, SEP 11 (UNI):- Union Minister Shivraj Singh Chouhan met Union Home Minister Amit Shah in New Delhi on Wednesday and handed over the preliminary report of the damage caused by the flood and heavy rain-affected areas of Andhra Pradesh and Telangana. UNI PHOTO-151U

NEW DELHI, SEP 11 (UNI):- Madhya Pradesh Chief Minister Mohan Yadav meets Union Home Minister Amit Shah in New Delhi on Wednesday. UNI PHOTO-144U

NEW DELHI, SEP 11 (UNI):- Madhya Pradesh Chief Minister Mohan Yadav meets Union Home Minister Amit Shah in New Delhi on Wednesday. UNI PHOTO-143U