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Polycab climb by 6% after beating predictions for Q1FY24
The Business Guardian
|July 19, 2023
The stock of Polycab India Ltd. increased by almost 6% after the firm revealed a net profit increase of 81 percent for the June quarter, beating analysts’ expectations. At 2.35 p.m., the stock was up 5.5 percent from its previous close, trading at Rs. 4,126 per share on the BSE.
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The firm reported a net profit of Rs 402.81 crore in June quarter against Rs 222.55 crore a year ago. Despite facing lower commodity prices, the company’s revenue for the quarter surged by 42 percent year-on-year to Rs 3,889.38 crore, up from Rs 2,736.56 crore. This remarkable increase was primarily driven by robust volume growth in the wires and cables business.
Diese Geschichte stammt aus der July 19, 2023-Ausgabe von The Business Guardian.
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