Polycab India posts 59% rise in Q2 profit on healthy wires, cables demand

Polycab India posted a 58.8 per cent rise in its second-quarter profit on Wednesday, aided by healthy sales in its wires and cables business.

Consolidated net profit climbed to 4.26 billion rupees ($51.19 million) in the three months ended September 30 from 2.68 billion rupees a year earlier.

KEY CONTEXT

Analysts expect cables and wires companies to report a strong quarter as demand from the housing and infrastructure sector, as well as recovery in exports, help volume growth

Polycab, India's second-largest cables maker by market capitalisation, has reported double-digit increases in earnings over the previous four quarters.

Rival Havells India is scheduled to report its second-quarter results on Thursday.

JULY-SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.2270 Indian rupees