Paramount Q3 net up 86%

BS 200 SCORECARD

Cable manufacturer Paramount Communications today reported 86 per cent increase in its net profit during the quarter ended December 31, 2006, at Rs 12.13 crore as compared to Rs 6.52 crore in the corresponding quarter previous fiscal.

The company's net sales grew by 80 per cent at Rs 96.59 crore against Rs 53.68 crore in the year-ago quarter, Paramount said in a statement.

"The FCCB issue for $27 million in November last year, which is being used in expansion projects, would take our turnover to Rs 1,200 crore plus by the year 2008-09," Chairman and CEO Sanjay Aggarwal said in the statement.