Indian Cable Industry Financial Results For Q1 FY 2922-23

The financial results of the Indian cable industry's ten major companies for Q1 FY 2922-23 have been released. Let's have a look at each company's Performance

1-Universal Cables

Universal Cables’ revenue from operations for the quarter ended 30th June 2022 stood at Rs. 513.80 crore, which is a remarkable 84.71% higher than the company’s Rs. 278.16 crore revenue during Q1 of FY-22.

Profit After Tax (PAT) clocked by the company in Q1 of the current fiscal was Rs. 26.77 crore, which is 22.69% higher than the PAT for Q1 of the previous fiscal, which stood at Rs. 21.82 crores.

2-Finolex Cables

For the quarter that ended 30th June 2022, Finolex Cables reported Rs. 1,015.65 crores as revenue from operations. This reflects an impressive YoY increase of 50.39% from the Rs. 675.36 crore revenue that the company clocked in Q1 of the previous financial year.

3-Cords Cable Industries

During the first quarter of the current fiscal year, the company's revenue from operations was Rs. 123.17 crore. This represents a healthy growth of 39.36% year on year (YoY) from the company's Rs. 88.38 crore revenue in Q1 of the previous fiscal.

4-KEC International

 In the first quarter of the current fiscal year, KEC reported consolidated revenue from operations of Rs. 3,318.08 crores. This represents a healthy 30.63% YoY increase from Rs. 2,540 crore, the company's revenue during the same period in FY-22.

The EPC major's profit after tax (PAT) fell 32.77% to Rs. 31.02 crores in the first quarter of FY-23, compared to Rs. 46.14 crores in the previous quarter.

 5-CMI Limited

The company's revenue from operations for the first quarter of FY-23 was Rs. 7.58 crore. This represents a 66.46% decrease from CMI's revenue of Rs. 22.6 crores during the same period the previous fiscal.

CMI's net loss for the quarter that ended June 30, 2022, was Rs. 11.92 crore. The company's net loss in the first quarter of fiscal year 22 was Rs. 17.95 crore. As a result, the net loss has been reduced by 33.59% year on year.

 6-Paramount Communications

For the fiscal quarter that ended 30th June 2022, Paramount Communications reported revenue from operations of Rs. 163.73 crores. This represents a 69.86% YoY increase over the company's revenue of Rs. 96.39 crores in the fourth quarter of the fiscal year 2021-22.

7-Vindhya Telelinks

The company's consolidated revenue from operations in the first quarter of FY-23 was Rs. 313.98 crore, which was 8.27% lower than the Rs. 342.27 crore revenue reported in the same quarter last year.

8-Himachal Futuristic Communications Limited (HFCL) 

HFCL reported Rs. 1,051.02 crores as consolidated revenue from operations for the quarter that ended 30th June 2022. This is YoY 12.91% lower than the Rs. 1,206.87 crore revenue that the company had clocked during the same period in the 2021-22 financial year.

 9-Ultracab India Ltd.

During the first quarter of the current fiscal year, the company's revenue from operations was Rs. 26.78 crores. This represents a 58.46% YoY increase in Ultracab's revenue from operations from Rs. 16.90 crores in Q1 FY-22. The company reported a profit after tax (PAT) of Rs. 1.09 crore for the first quarter of FY-23, a 98.18% increase from the previous fiscal's PAT of Rs. 0.55 crore.

10-Aksh Optifibre

For the first quarter of the fiscal year 2022-23, Aksh Optifibre Ltd. reported revenue from operations of Rs. 79.93 crores. This 6.97% increase reflects the company's revenue stability when compared to its Rs. 74.72 crore revenue in Q1 of the previous fiscal.