Leading power and telecom cable manufacturer Finolex Cables Ltd on Thursday (May 23) reported a 6.3% year-on-year (y-o-y) increase in net profit at ₹186.1 crore for the fourth quarter ended March 31, 2024.
During the corresponding quarter, Finolex Cables reported a net profit of ₹175 crore, the company said in a regulatory filing. The company’s operating revenue increased 14.4 per cent to ₹1,401 crore from ₹1,224.3 crore in the corresponding period of the previous fiscal.
At the operational level, EBITDA grew 11.2 per cent to ₹162 crore in the fourth quarter of this fiscal, compared to ₹145.7 crore in the year-ago period.
Read also: Uno Minda Fourth Quarter Results | Auto components maker declares ₹1.35 dividend, profits jump 58%
The EBITDA margin stood at 11.6% during the quarter under review compared to 11.9% in the corresponding period of FY23. EBITDA corresponds to earnings before interest, taxes, depreciation and amortization.
The Board of Directors has recommended a dividend of ₹8 per equity share of ₹2 each fully paid (400%) for the financial year ending March 31, 2024, subject to shareholder approval at the meeting annual general meeting which will follow.
The results came after the close of market hours. Shares of Finolex Cables Ltd ended at ₹1,144.75, down ₹15.35, or 1.32 per cent, on the BSE.
Read also: Rategain Travel Fourth Quarter Results | Net profit doubles to ₹145 crore in FY24
cnbctv18-forexlive
