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Paramount Announces Q2 FY-24 Results: PAT Jumps 54% YoY

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Paramount Communications Limited [NSE: PARACABLES, BOM: 530555], a Delhi-based cable manufacturing company, has announced the financial results for Q2 of FY-24.

Paramount Communications’ Standalone Financial Numbers for Q2 FY-24

Paramount Communications reported a standalone revenue of Rs. 250.28 crore from its operations for Q2 of FY-24.

Standalone Profit After Tax (PAT) of the company was Rs. 19.45 crore during second quarter ended 30th September 2023.

Earnings Per Share (EPS) of Paramount communications stood at Rs. 0.86 during Q2 of FY-24.

Consolidated Quarterly Financial Figures of Paramount Communications

YoY Comparison of Paramount’s Financial Results: Q2 FY-24 vs. Q2 FY-23

Paramount Communication’s Financials: Q2 FY-23 vs. Q2 FY-24 vs. Q1 FY-24

Paramount Communications recorded Rs. 252.44 crore as its consolidated revenue from revenue for Q2 of FY-24. This shows a 18.76% Year-over-Year (YoY) increase from Rs. 212.57 crore revenue clocked by company during Q2 of FY-24.

Consolidated PAT of the company increased by 54.44% YoY to Rs. 19.49 crore in Q2 of FY-24 from Rs. 12.62 crore during Q2 of FY-23.

EPS of Paramount during Q2 of FY-24 stood at Rs. 0.86 against Rs. 0.65 in second quarter of FY-23.

QoQ Comparison of Paramount Communications’ Financials: Q2 FY-24 vs. Q1 FY-24

Quarter-over-Quarter comparison of Paramount’s consolidated financials reveals that the company’s revenue from operations went up by 19.90% from Rs. 210.54 crore during Q1 of FY-24.

Paramount’s PAT grew substantially, shooting up by 34.14% from Rs. 14.53 crore which was reported for Q1 of FY-24.

Paramount Communications’ Share Price Gains over 4% Post Announcement of Results

Paramount Communications’ share price increased by 4.95% after the company announced its financials for Q2 of FY-24.

Further, volume of trades of the company’s shares peaked at 5,57,000, one day after the company announced its financials, against 3,46,000 trades on the day of announcing its financial results, thereby representing a 60.98% jump.

About Paramount Communications Limited: Paramount Communications, also known as Paramount Cables in manufacturing circles, is engaged in wire and cable manufacturing. The company has a wide product range including High Voltage & Low Voltage Power Cables, Specialised Cables, Railway Cables, Optical Fiber Cables and telecom Cables, Instrumentation & Data Cables, and Fire Survival Cables. The company has two manufacturing facilities one of which is situated in Khushkhera, Rajasthan, while the other is in Dharuhera, Haryana.