Polycab India reports 31.68 per cent growth in consolidated PAT

In FY23, the PAT of the company witnessed 51.70 per cent growth at Rs 1,282.25 crore compared to Rs 845.23 crore in the previous fiscal.
Electrical goods company Polycab India on Friday reported a 31.68 per cent growth in consolidated profit after tax (PAT) during the quarter ending March 31, at Rs 428.41 crore compared to the same period of the previous financial year.

The company’s PAT stood at Rs 325.33 crore during the corresponding period of the previous fiscal, Polycab India said in a regulatory filing.

Revenue from operations of the company increased by 8.90 per cent at Rs 4,323.68 crore during the quarter under review compared to Rs 3,969.98 crore in the same period of the previous fiscal.

In FY23, the PAT of the company witnessed 51.70 per cent growth at Rs 1,282.25 crore compared to Rs 845.23 crore in the previous fiscal. Revenue from operations of the company in FY23 grew by 15.60 per cent to Rs 14,107.77 crore compared to Rs 12,203.76 crore in the previous financial year.

“FY23 was a remarkable year for the company, as we surpassed revenues of Rs 14,000 crore and profitability threshold of Rs 1,000 crore, to record highest ever revenues and PAT. With robust demand on the anvil, we are confident of exhibiting continued strong growth in the near-to-mid term as well,” Polycab India Chairman and Managing Director Inder T Jaisinghani said.

The company’s shares on Friday closed at Rs 3,388.55, up 4.78 per cent on BSE. PTI