Dynamic Cables net profit grows 59% in Jan-March quarter
PremiumDynamic Cables had clocked ₹5.34 crore net profit a year ago, it said in a regulatory filing on Monday
New Delhi: Dynamic Cables has reported about a 59 per cent jump in its standalone net profit to ₹8.48 crore for the quarter ended March 2022, boosted by higher income.
The company had clocked ₹5.34 crore net profit a year ago, it said in a regulatory filing on Monday.
Total income increased to ₹173.29 crore in the quarter under review from ₹139.90 crore in the fourth quarter of FY21.
In the 2021-22 fiscal, net profit rose to ₹30.90 crore from ₹9.84 crore in the preceding financial year.
The company had clocked a record turnover of ₹566.29 crore in FY22 compared to ₹350.67 crore in 2020-21.
In a separate statement, the company's Managing Director (MD) Ashish Mangal said: "Our performance in the fourth quarter and FY22 was driven by operational improvement as a result of lean manufacturing practices, selecting the right set of business, cost optimisation and increase in productivity. We look forward to further consolidate our position amongst the mid-tier cables suppliers".
With a cash flow of ₹64 crore from operations, the company was able to substantially reduce its debt and fund capex, he said.
According to the company, "Debtors outstanding as on March 31, 2022, was ₹159.30 crore against ₹139.29 crore on December 31, 2021".
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The company has an order book of ₹242.68 crore at present.
Dynamic Cables Ltd is a manufacturer of power infra cables that includes LT, HT, EHVC, power control and instrumentation cables, flexible and industrial cables, solar cables and railway signalling cables.
Shares of the company were trading 1.47 up at ₹124.10 apiece on BSE.
This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.