Polycab India, a leading manufacturer of wires and cables, on Friday, reported a 1.36 percent year-on-year (YoY) rise in net profit at Rs 248.37 crore for the third quarter ended December 31, 2021.

In the corresponding quarter last year, the company posted a net profit of Rs 245.02 crore. Its revenue from operations grew 22.78 percent to Rs 3,371.99 crore, compared with Rs 2,746.34 crore in the year-ago period.

The earnings before interest, taxes, depreciation and amortization (EBITDA) margin continued to improve sequentially by 100bps to 10.7 percent led by price hikes and better operating leverage, partly offset by input cost pressures and higher A&P spends. PAT margin improved to 7.4 percent against the previous quarter. PAT grew 1 percent YoY.

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Inder T. Jaisinghani, chairman and managing director, Polycab India Ltd, said, "We saw the momentum continue in 3Q despite a challenging business environment. We recorded the highest quarterly top-line in the history of the company for the second consecutive quarter which substantiates our strategy to be agile, focus on robust execution and consistently deliver the best quality of products to our customers."

"We have revitalised our demand generation capabilities and Go-To-Market strategy with greater emphasis on Emerging India clusters and new age channels. We have also commenced work on developing a robust ESG framework that will align us to the best of global standards and serve as guiding principles for sustainable business practices."

The results came after the close of the market hours. Shares of Polycab India ended at Rs 2,510.30, down by Rs 171.70, or 6.40 percent on the BSE.

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(Edited by : Jomy Jos Pullokaran)

First Published:Jan 21, 2022 7:20 PM IST