Cords Cable Exhibits Robust Financial Performance: Q2 FY23 Revenue Up 24.31% YoY
Cords Cable Industries Ltd. [NSE: CORDSCABLE, BOM: 532941] has announced its financial results for the quarter ended 30th September 2022.
Cords Cable Industries’ Q2 FY23 Financial Performance
YoY Comparison of Cords’ Financials: Q2 FY-23 vs. Q2 FY-22
Cords Cable Industries reported Rs. 131.74 crore as revenue from operations for the second quarter of 2022-23. This is a noteworthy 24.31% Year-over-Year (YoY) leap from the Rs. 105.98 crore revenue which was clocked by the company during the corresponding period of FY-22.
Profit After Tax (PAT) earned by the company during Q2 of FY-23 stood at Rs. 1.72 crore, which reflects a 13.16% YoY increase from the Rs. 1.52 crore PAT for Q2 of the previous fiscal.
Overall on a YoY basis, the company’s performance has followed a steady upward trajectory, indicating financial resilience.
QoQ Comparison of Cords Cable’s Financial Results: Q2 FY-23 vs. Q1 FY-23
Quarter-over-Quarter (QoQ) comparison of Cords’ revenue from operations reveals a marginal 6.96% increase from Rs. 123.17 crore earned during the first quarter of the current financial year.
The company reported a meagre QoQ decrease of 1.15% in PAT from its Q1 FY-23 PAT of Rs. 1.74 crore.
Insights of the Company on its Financial Performance
Speaking about the company’s financial performance, Mr. Sandeep Kumar, CFO of Cords Cable Industries, said, “During the quarter ended 30th September 2022, the company performance has been reasonably good and satisfactory. The company has a strong order book, and has booked some large-amount orders from prestigious customers which include the Hydrocarbon sector, Cement sector and Water sector“.
About Cords Cable Industries Ltd.: Delhi-headquartered Cords Cable Industries was established in 1987, and has manufacturing facilities at Chopanki and Kahrani in Rajasthan. The company is involved in the manufacture of Instrumentation cables, Thermocouple cables, Power cables, Control cables, and other Special cables to provide solutions for industrial connectivity requirements such as Railway Signalling, SCADA, DCS, and other plant instrumentation requirements.
