Finolex Cables 1QFY2012 performance highlights and results update

For 1QFY2012, Finolex Cables (Finolex) reported a 6.6% yoy decline in its top line to Rs.461cr. The company’s operating profit also declined by 13.1% yoy to Rs.34cr. OPM declined by 56bp yoy but improved by 8bp qoq to 7.5%. PAT came in at Rs.20cr, down 12.3% yoy, but improved by 8.2% qoq. Going ahead, the business outlook remains positive, given the growth prospects in user industries and higher sales from the high-tension (HT) cables plant.

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