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Pune, July 20 Finolex Cables Ltd has recorded net sales of Rs 302.38 crore for the quarter ended June 2007, as against Rs 211.74 crore for the corresponding period last year. Net profit for the quarter stood at Rs 31.8 crore as against Rs 22.56 crore for the corresponding period.

Earnings per share for the quarter was Rs 2.08 compared to Rs 1.47 for the corresponding quarter of the prevous fiscal.

According to a company release, the price of the principal raw material — copper — has seen an upward trend during the quarter, compared to the earlier quarter.

It added that two new manufacturing facilities are being set up to cater to the growing market. The new factory at Urse would manufacture high voltage power cables and the one near Roorkee in the Uttarakhand would produce light duty electrical cables.

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