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Finolex Cables has posted a net profit of Rs 79.9 crore during the second quarter of FY’14 against Rs 57.5 crore in the same period last year, indicating a rise of 39 per cent year-on-year.
Net sales of the Pune-based maker of electrical and communication cables stood at Rs 593 crore and Rs 586 crore, respectively.
Though in value terms, sales remained flat, in volume terms, electrical cables remained the same and communication cables grew over 25 per cent, the company said.
The board was also informed that Crisil has upgraded the ratings of the company’s long-term facilities to “AA+” with a stable outlook.
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