Polycab India Limited has reported a surge of 201.91 per cent in its profit after tax (on annual basis) to Rs 2.22 billion during quarter ended (QE) June 2022. The revenue from operations of the company during the quarter under review grew by 47.5 per cent to Rs 27.36 billion during the same period. Meanwhile, the earnings before interest, tax, depreciation and amortisation (EBITDA) margin improved by 420 bps to 11.3 per cent, majorly on the account of calibrated price hikes and better operating leverage.
The company’s wires and cables businesses saw a strong growth of 48 per cent Y-o-Y.
The domestic distribution driven business sustained its strong growth momentum, while the institutional business improved its performance compared to same quarter last year. The exports contributed 6.7 per cent to consolidated revenue and posted healthy revenue growth of 62 per cent Y-o-Y.
Commenting on the financial results, Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said, “We have started the fiscal year 2023 on solid footing, with top line growth of 48 per cent fuelled by strong performance across business-to-business (B2B) and business-to-consumer (B2C) categories. Furthermore, we recorded the highest 1st quarter top-line in the history of the company which underlines our strategy to be agile, focus on robust execution and consistently deliver the best quality of products to our customers. Profitability was supported by better operating leverage and various strategic initiatives implemented over the past few quarters. We will strive to continue the path of profitable and sustainable growth and contribute to the success of all our stakeholders.”
