In its fourth quarter results ending March 31, wires and cables manufacturer Polycab India has reported a 20 per cent year-on-year rise in net profit to Rs 325.33 crore. The company's net profit was Rs 271.06 crore in the year-ago quarter, Polycab India said in a BSE filing.
Revenue from operations during the quarter under review increased 34.90 per cent to Rs 3,969.98 crore, as compared to a year ago when it was Rs 2,942.74 crore. For FY22, the company's net profit rose marginally by 3.53 per cent to Rs 917.28 crore compared to Rs 885.93 crore in FY21.
In 2021, revenue from operations surged 38.80 per cent to Rs 12,203.76 crore from Rs 8,792.23 crore in FY20.
"Our strong performance in fiscal year 2022 was underpinned by the extraordinary efforts of our team to achieve new milestones even in one of the most uncertain environments. We delivered accelerated business growth, record free cash flow, healthy returns on capital and market-leading shareholder returns. We will champion our renewed purpose of innovating for a brighter living. Our i-POWER values will guide our thoughts and actions, which will help us create long term sustainable value for all stakeholders," Polycab India Chairman and Managing Director Inder T Jaisinghani added.
Shares of the company on Tuesday closed at Rs 2,394.90, down 1.66 per cent on BSE.
