Paramount Cables Q1 PAT grows to Rs 25.3 crore
Paramount Cables reports a 74% increase in Q1 PAT, reaching Rs 25.3 crore, driven by a 52% rise in total revenues to Rs 324.2 crore. The growth, fueled by strong demand in domestic and international markets, particularly in railways and power cables, signals a robust performance and optimistic outlook for FY25.
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Industrial wire maker Paramount Cables on Friday posted a 74 percent rise in its consolidated profit after tax to Rs 25.3 crore during the June quarter, on account of higher revenues. It had reported Rs 14.5 crore Profit After Tax (PAT) in the April-June period of the preceding 2023-24 fiscal, the company said in a statement.
The company's total revenues rose to Rs 324.2 crore, up 52 percent from Rs 212.2 crore in the year-ago quarter. The railways and power cables contributed 37.5 percent and 19.9 percent respectively to the revenues. "In Q1FY25, our company saw significant revenue growth.
This impressive growth was driven by robust demand for our products in both domestic and international markets, with a healthy recovery in the USA markets. We are optimistic about maintaining this growth trajectory throughout FY25," a company spokesperson said.
Paramount Cables manufactures multi-core cables, low and high-voltage cables, besides extra-high-voltage cables for industrial applications.
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