Polycab India Q3 PAT grows 14 pc to Rs 221 cr

Wires and cables maker Polycab India Ltd (PIL) on Tuesday said its profit after tax (PAT) rose 14 per cent to Rs 221.4 crore during the quarter ended December 31, 2019, helped by higher income.

The company had clocked Rs 193.6 crore PAT in the corresponding quarter of the preceding fiscal, PIL said in a BSE filing.

Total income in the latest quarter stood at Rs 2,507.6 crore as against Rs 2,048.6 crore in the same period of 2018-19.

Total expenses were at Rs 2,217.4 crore as compared to Rs 1,760.1 crore in October-December 2018-19.

"We have delivered yet another quarter of resilient growth. Our topline growth remains strong across segments helped by our robust pan India distribution network coupled with exports while profitability improved sequentially on the back of enhanced and evolving product mix and various strategic initiatives which we have implemented over the past few years," company's Chairman and Managing Director Inder T Jaisinghani said in a statement.

PIL is engaged in the business of manufacturing and selling wires and cables. It is the largest manufacturer of wires and cables in India and a growing player in FMEG (Fast-Moving Electrical Goods) space.

PIL manufactures and sells various types of cables, wires, electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

Shares of the company ended 4.13 per cent down at Rs 1082.45 apiece on the BSE.