Finolex Cables 2QFY2012 performance highlights and results update

For 2QFY2012, Finolex Cables (Finolex) reported a 1.7% yoy increase in its top line to Rs,499cr. The company’s operating profit declined by 4.0% yoy to Rs,40cr. OPM declined by 48bp yoy but improved by 50bp qoq to 8.0%. PAT came in at Rs,20cr, up 4.2% yoy, but declined by 2.4% 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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