Polycab India, the wires and cables manufacturer, on Friday reported a 29% year-on-year (YoY) rise in consolidated net profit at ₹553 crore, compared to ₹428 crore in the year-ago period.
The company's revenue from operations also jumped 29% YoY to ₹5,592 crore as against 4,324 crore in the corresponding period of last fiscal.
Both the company's topline and bottomline were higher than CNBC-TV18's estimates of ₹4,979 crore and ₹480 crore.
Operating profitability is higher by 10% to ₹762 crore, much better than the CNBC-TV18's poll was at ₹693 crore. The operating margins, however, reduced by 30 basis points to 13.6%, while the estimates were at 13.9%.
Polycab India also recommended a dividend of ₹30 per equity share of face value of ₹10 each for the financial year 2024. This will result in a dividend payout of 300%.
Record date for the said dividend will be intimated in due course.
The dividend, if approved by the shareholders in the ensuing Annual General Meeting will be paid on or before 30 days from the date of Annual General Meeting.
"This outstanding performance is a direct result of our steadfast focus over the years on key areas such as expanding our distribution network, enhancing manufacturing capabilities, and striving for operational and organizational excellence," said Inder T Jaisinghani, Chairman and Managing Director at Polycab India.
Post the earnings announcement, shares of Polycab India were trading 0.040% higher on the National Stock Exchange at ₹5,805.80. The stock has risen 6% in 2024 so far.
The company's revenue from operations also jumped 29% YoY to ₹5,592 crore as against 4,324 crore in the corresponding period of last fiscal.
Both the company's topline and bottomline were higher than CNBC-TV18's estimates of ₹4,979 crore and ₹480 crore.
Operating profitability is higher by 10% to ₹762 crore, much better than the CNBC-TV18's poll was at ₹693 crore. The operating margins, however, reduced by 30 basis points to 13.6%, while the estimates were at 13.9%.
Polycab India also recommended a dividend of ₹30 per equity share of face value of ₹10 each for the financial year 2024. This will result in a dividend payout of 300%.
Record date for the said dividend will be intimated in due course.
The dividend, if approved by the shareholders in the ensuing Annual General Meeting will be paid on or before 30 days from the date of Annual General Meeting.
"This outstanding performance is a direct result of our steadfast focus over the years on key areas such as expanding our distribution network, enhancing manufacturing capabilities, and striving for operational and organizational excellence," said Inder T Jaisinghani, Chairman and Managing Director at Polycab India.
Post the earnings announcement, shares of Polycab India were trading 0.040% higher on the National Stock Exchange at ₹5,805.80. The stock has risen 6% in 2024 so far.
First Published: May 10, 2024 12:15 PM IST
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