Finolex Cables Posts Profit Jump in Q4

Finolex Cables Ltd., (FCL) recently released its results for the fourth quarter as well as the full year of 2018-19.

Finolex

Revenues for the quarter ended March 2019 were Rs.8216.9 million as against Rs.7992.0 million for the corresponding period in the year 2017-18 representing a 3% growth in value terms. In volume terms, all Electrical Wires grew by 18% while Power Cables de-grew marginally.

Within the Communication Cables segment, volumes in Optic Fiber Cables de-grew owing to delays in orders from both the Government sector as well as sluggishness from Private Telecom Companies. Other Communication products which are sold through the dealer network, however, saw volume growth of over 15%. New products within the FMEG sector all grew by more than 10% each. The positive impact of GST is quite visible now.

For the full year 2018-19, sales were Rs 30825.8 million as against Rs 29028.4 million in the previous year with a 6% revenue growth. Except for Power Cables and Optic Fiber Cables, all other product lines showed a healthy volume growth.

Newer product lines (Fans, Switchgear and Water Heaters) have all grown. Addition to the product range, expansion of distribution network, continued presence in visual media has all contributed to the Finolex brand recognition within these product segments.

Profit for the quarter, before taxes, was Rs.1399.4 million, as compared to Rs.1276.8 million in the previous year – the growth of 10%. For the full year, profit before taxes improved to Rs 5318.6 million from Rs 5044.8 million in the previous year – a growth of 5.5%. At a PAT level, PAT for Q4 of 2018-19 stood at Rs 849.0 million as against Rs 817.6 million for the corresponding period of the previous year – a growth of 4%. For the full year, profit after taxes was Rs 3440.9 million as against Rs 3582.0 million in the previous year – the reduction due to the cessation of fiscal benefits at Roorkee.

Based on the performance, the Board has recommended a dividend of 225% for the year. For the year ended March 31, 2019, the consolidated results reflect net sales of Rs 30825.8 million as against Rs 29028.4 million in the previous year and Profit Before Taxes of Rs 6102.2 million as against Rs 5491.4 million in the previous year. 

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Ayush Verma

Ayush Verma

Ayush is a staff writer at saurenergy.com and writes on renewable energy with a special focus on solar and wind. Prior to this, as an engineering graduate trying to find his niche in the energy journalism segment, he worked as a correspondent for iamrenew.com.

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