Polycab India Q3 consolidated net profit rises 1.36 pc to Rs 248.37 cr

Wires and cables manufacturer Polycab India on Friday reported a 1.36 per cent rise in consolidated net profit to Rs 248.37 crore for the quarter ending December 31, 2021.

The company's net profit for the corresponding quarter of 2020-21 had stood at Rs 245.02 crore, the company said in an exchange filing.

Its revenue from operations grew 22.78 per cent to Rs 3,371.99 crore, compared with Rs 2,746.34 crore in the year-ago period.

''We saw the momentum continue in the third quarter despite a challenging business environment.

''We recorded the highest quarterly topline (revenue) in the history of the company for the second consecutive quarter, which substantiates our strategy to be agile, focus on robust execution and consistently deliver the best quality of products to our customers,'' Polycab India Chairman and Managing Director Inder T Jaisinghani said.

The company has revitalised its demand generation capabilities and the go-to-market strategy with greater emphasis on emerging India clusters and new-age channels, he said.

''We have also commenced work on developing a robust ESG (environmental, social and governance) framework that will align us to the best of global standards and serve as guiding principles for sustainable business practices,'' he added.

The company's shares on Friday declined 6.4 per cent to close at Rs 2,510.30 apiece on the BSE.