Company News
Polycab India Q3 results: Net profit rises 11% to Rs 458 crore
Polycab India on January 22 reported a consolidated net profit of Rs 457.57 crore in the October-December quarter of the current financial year. This marks an increase of 11 percent from the Rs 412.85 crore net profit reported in the corresponding quarter of FY24.
The shares of the wires and cable-maker were down over 7 percent after the announcement. The shares were trading at Rs 6,102 at 1.45 pm. This comes after the company’s Q3 results failed to meet analyst expectations on some fronts.
Polycab India’s revenue from operations stood at Rs 5,226 crore in Q3 FY25. It saw a strong rise of nearly 20 percent from the Rs 4,340.4 crore revenue reported in Q3 FY24. “Robust performance across businesses helped the Company register its highest ever third quarterly revenue. 9-month revenue surpassed the milestone of Rs 15,000 crore for the first time ever,” Polycab said.
During the quarter under review, Polycab’s total income rose to Rs 5,251 crore, up 19 percent from Rs 4,411.46 crore income reported in Q3 FY25. Its total expenses however saw a sharp rise of 20 percent from the year-ago period to Rs 4,634 crore.
The firm reported an operating EBITDA of Rs 720 crore, marking a rise of 26% year-over-year. The EBITDA margin stood at 13.8 percent in Q3.
The company noted that a slowdown in its wires business had moderated the segment’s growth during the quarter. While its revenue from wires and cables segment rose 12 percent year-over-year to Rs 4,385 crore, it marked a sequential fall of 7 percent from Q2.
“Demand for cables remained healthy during the quarter. However, downward trend in copper prices combined with high channel inventory of wires at the beginning of the quarter led to slowdown in wires business. Pick-up in government spending and project execution pace, continued momentum in real estate and trend in commodity price movement will be key monitorable for near-to-mid term demand,” it said.
The company further announced that it is poised to meet its FY26 revenue target earlier than committed. Its current net sales has reached Rs 21,000 crore, already crossing its earlier set FY26 target of Rs 20,000 crore. Moneycontrol