Polycab India jumps after strong Q1 result

Don't want to miss the best from Business Standard?

Polycab India was up 5.53% to Rs 620.07 at 9:44 IST on the BSE after consolidated net profit rose 75.7% to Rs 135.27 crore on 14.9% rise in net sales to Rs 1932.98 crore in Q1 June 2019 over Q1 June 2018.

The result was announced after market hours on Friday, 26 July 2019.

Meanwhile, the S&P BSE Sensex was down by 52.62 points or 0.14% to 37,830.83.

On the BSE, 14000 shares were traded in the counter so far compared with average daily volumes of 3695 shares in the past two weeks. The stock had hit a high of Rs 645 and a low of Rs 607. The stock hit a 52-week high of Rs 677.7 on 10 May 2019 and a 52-week low of Rs 578 on 19 June 2019.

The company's earnings before interest tax depreciation and amortization (EBITDA) increased 33.71% to Rs 257.4 crore in Q1 June 2019 over Q1 June 2018.

The EBITDA margin grew to 13.3% in Q1 June 2019 from 11.4% Q1 June 2018, driven by improvement in sales mix, expansion in contribution margin and other income.

Polycab is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods.

Powered by Capital Market - Live News