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Paramount Communications’ FY23 Revenue Up 37%, PAT Grows Sixfold

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Paramount Communications Limited [NSE: PARACABLES, BOM: 530555], an Indian cable manufacturer, has announced its financial results for the quarter and year ended 31st March 2023.

Paramount’s FY23 Standalone Financial Numbers

Paramount Communications reported a revenue of Rs. 202.08 crore from operations for Q4 of FY23, and Profit After Tax (PAT) stood at Rs. 13.80 crore. Considering the entire 2022-23 financial year, the company minted a standalone top-line of Rs. 796.47 crore and a PAT of 47.77 crore.

Further, the company’s Earnings Per Share (EPS) were Rs. 0.67 in Q4 of FY-23, and Rs. 2.40 for the entire FY-23.

Paramount Communications’ FY23 Consolidated Financial Figures

YoY Comparison of Paramount’s Financials: Q4 FY-23 vs. Q4 FY-22 & FY-23 vs. FY-22

Comparison of Paramount Communications Financials: Q4 FY22 vs Q4 FY23 vs Q3 FY23

For quarter ended 31st March 2023, Paramount Communications reported a consolidated top line of Rs. 202.08 crore, reflecting a healthy Year-over-Year (YoY) growth of 10.32% from Rs. 183.18 crore which was clocked during Q4 of FY-22.

Q4 PAT of the company grew to Rs. 13.80 crore in FY-23, which is 2.83 times the Rs. 4.87 crore profit reported for Q4, 2021-22 fiscal.

Comparison of Paramount Communications Financials: FY22 vs. FY23

While Paramount’s Q4 revenue grew robustly YoY, the 37.10% jump in the company’s revenue for the entire financial year was particularly impressive. During FY-23, Paramount’s top line grew to Rs. 796.47 as compared to Rs. 580.94 crore which was clocked for FY-22.

Further, Paramount’s FY-23 PAT of Rs. 47.77 crore was almost six times (5.82 times) its FY-22 PAT of Rs. 8.21 crore.

EPS of the company echoed the same trend YoY. For Q4 of FY-23, Paramount’s EPS was Rs. 0.67 against Rs. 0.25 during Q4 of FY-22, thereby exhibiting an increase to 2.68 times YoY. For the entire year, the company’s EPS was Rs. 2.40 in FY-23, which is 5.71 times its Rs. 0.42 EPS reported for FY-22.

QoQ Comparison of Paramount’s Numbers: Q4 FY-23 vs. Q3 FY-23

On a Quarter-over-Quarter (QoQ) basis, Paramount’s Q4 FY-23 financials showed a contrasting trend as compared to their YoY analysis.

The company’s revenue from operations dropped by 7.34% from Rs. 218.09 crore reported for the quarter ended 31st December 2022. PAT also dropped marginally by 3.63% QoQ from Rs. 14.32 crore for Q3 of the recently concluded fiscal.

About Paramount Communications Ltd.: 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 & 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.