Polycab India shares snapped a six-session losing streak and rose over 4 percent on Monday after the company reported strong results for the December quarter.
The stock climbed 4.15 percent to an intraday high of Rs 7,417 on the NSE, marking one of its strongest single-day gains in the past month. Shares of the company had ended nearly 3 percent lower on Friday.
The wires and cables maker reported a 36 percent year-on-year rise in consolidated profit for the third quarter, while revenue jumped 46 percent.
According to brokerage firm Jefferies, the company posted strong December-quarter volume growth of around 40 percent year-on-year in the cables and wires segment, driven by market share gains, private capital expenditure, housing demand and restocking.
The brokerage, however, noted that margins were impacted during the quarter as the company did not fully pass on the rise in commodity prices in order to protect demand.
Jefferies estimates a compound annual growth rate of 25 percent in profit after tax over FY25–FY28, led by volume growth and improvement in margins in the fast-moving electrical goods segment.
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