Paramount Cables Sees Impressive 74% Surge in Q1 Profits

Paramount Cables reported a 74% increase in its consolidated profit after tax to Rs 25.3 crore for the June quarter, compared to Rs 14.5 crore in the same period last fiscal. The company's revenues rose to Rs 324.2 crore, driven by strong demand in both domestic and international markets.

Paramount Cables, an industrial wire maker, announced a substantial 74% rise in its consolidated profit after tax for the June quarter, reaching Rs 25.3 crore. This impressive gain is attributed to higher revenues.

In the corresponding quarter of the previous fiscal year, the company recorded a profit of Rs 14.5 crore. For this period, total revenues climbed to Rs 324.2 crore, reflecting a 52% increase from Rs 212.2 crore the previous year.

The railways and power cables sectors significantly contributed to this growth, accounting for 37.5% and 19.9% of the revenues, respectively. A company spokesperson cited robust demand in both domestic and international markets, particularly noting a recovery in the USA, as key drivers behind the revenue growth. The spokesperson expressed confidence in maintaining this momentum throughout the fiscal year FY25.