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Last Updated : May 30, 2016 03:27 PM IST | Source: CNBC-TV18

Turnover to double following General Cables acquisition: CMI

The revenues from CMI's recent acquisition of General Cables Energy (GCE) will start coming in by the second quarter of FY17, says Amit Jain, Managing Director, CMI.

The revenues from Chaudhari Metal Industries' (CMI) recent acquisition of General Cables Energy (GCE) will start coming in by the second quarter of FY17, says Amit Jain, Managing Director, CMI. The revenues, he says, are likely to double owing to the acquisition.

The cables manufacturer witnessed an exceptional rise in its consolidated net profits to Rs 106 crore in FY16 from a mere Rs 6.3 crore in the previous year.

Trading in CMI shares was suspended from exchanges from March 31. But Jain says that BSE has lifted the suspension based on directions from the Delhi High Court.

Below is the verbatim transcript of Amit Jain's interview with Reema Tendulkar and Mangalam Maloo on CNBC-TV18.

Mangalam: Could you tell us whether these numbers are strictly comparable year-on-year (Y-o-Y) or is there an effect of the GE Cable business and the other acquisitions and if there is then what is the like-to-like growth that you have witnessed?

A: The numbers that we have clocked this quarter is on a Y-o-Y basis. The effect of the acquisition of GE Cable has not come into effect during the results.

Mangalam: Once that does come by, what is the kind of revenues we can expect in FY17 and FY18?

A: As I have told earlier, we are expecting a good growth in the times to come in this. By the second quarter of this year, the revenues from the new plant will come into effect and we will be doubling our turnover this year.

Reema: FY16 your topline was Rs 240 crore, you are saying that the company should do Rs 480 crore at least?

A: Right.

For entire discussion, watch accompanying video...

First Published on May 30, 2016 01:17 pm
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