Finolex Cables gains on reporting 8% rise in Q3 consolidated net profit
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Finolex Cables is currently trading at Rs. 569.00, up by 7.55 points or 1.34% from its previous closing of Rs. 561.45 on the BSE.
The scrip opened at Rs. 576.00 and has touched a high and low of Rs. 585.00 and Rs. 567.55 respectively. So far 7975 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 593.90 on 30-Nov-2022 and a 52 week low of Rs. 344.00 on 19-May-2022.
Last one week high and low of the scrip stood at Rs. 585.00 and Rs. 535.05 respectively. The current market cap of the company is Rs. 8720.60 crore.
The promoters holding in the company stood at 35.92%, while Institutions and Non-Institutions held 28.30% and 35.78% respectively.
Finolex Cables has reported results for third quarter ended December 31, 2022 (Q3FY23).
The company has reported rise of 41.67% in its net profit at Rs 134.87 crore for Q3FY23 as compared to Rs 95.20 crore for the corresponding quarter previous year. Total income of the company increased by 19.34% to Rs 1,183.29 crore for the quarter under review as compared to Rs 991.54 crore for the same quarter in the previous year.
On the consolidated basis, the company has reported rise of 7.91% in its net profit at Rs 154.31 crore for Q3FY23 as compared to Rs 143 crore for the same quarter in the previous year. Total income of the company increased by 19.34% to Rs 1,183.29 crore for the quarter under review as compared to Rs 991.54 crore for the same quarter in the previous year.
