Date:13/05/2005 URL: http://www.thehindubusinessline.com/2005/05/13/stories/2005051301590200.htm

Back Finolex Cables Q4 net up at Rs 10.13 cr

Our Bureau

Pune , May 12

FINOLEX Cables Ltd has recorded sales of Rs 570.76 crore for the year ended March as compared to Rs 455.64 crore for the preceding year, an increase of 25.26 per cent. Profit before tax was up by 14.04 per cent at Rs 37.13 crore as compared to Rs 32.56 crore in 2003-04.

The company has declared a dividend of 45 per cent i.e. Rs 4.50 on face value Rs 10 per share. Earnings per share (EPS) for the year ended March 31 is Rs 10.06 (Rs 9.66) and cash earnings per share (CEPS) is Rs 18.51 (Rs 18.28).

For the quarter ended March 31, the total sales has increased to Rs 140.13 crore (Rs 135.19 crore). Net profit for the quarter ended March 31, is Rs 10.13 crore, up from Rs 3.36 crore of the corresponding quarter of previous year.

"Raw material prices had hardened over the earlier year, but we were able to deal with it optimally. Prices now appear to be stabilised and accepted by market. VAT introduced by the Government will reduce the disparity between organised and unorganised sectors and, hence, Finolex, as a brand, has an edge over others," Mr Deepak Chhabria, Managing Director, FCL said.

The electrical cables business witnessed a growth contributing 68 per cent to the business, he said.

BSNL, which floated its yearly tender for cables requirements at 120 lakh conductor kilometres (LCKM), is expected to place an order of 12 LCKM.