Polycab India's Q2 consolidated profit up 37% at Rs 270 crore

Wires and cables manufacturer Polycab India (PIL) on Tuesday reported a 36.72 per cent growth in consolidated profit during the September quarter at Rs 270.45 crore. The company's profit stood at Rs 197.80 during the corresponding quarter of 2021-22, it said in a regulatory filing.

Revenue from operations of the company during the quarter under review grew by 10.83 per cent to Rs 3,332.35 crore as against Rs 3,006.55 crore in the year-ago period. "We continued with our strong business performance in the second quarter, posting the highest ever second quarter revenue in the history of the company. Combined with the stand-out performance of the first quarter, our top-line for the first half of the year grew by 25 per cent year-on-year. Margin expansion was supported by strong growth in exports and judicious price revisions," PIL Chairman and Managing Director Inder T Jaisinghani said.

Strong domestic economy with structural reforms focused on infrastructure development augurs well for most of PIL's product categories and the company remains committed to achieving Rs 200 billion sales by FY26, he added. The company's shares on Tuesday closed at Rs 2,751.15 apiece, up 5 per cent on the BSE.