Paramount Communications’ Q1 FY23 Revenue Increases 69.86% YoY, Profit Up 44.35% QoQ
Paramount Communications Limited [NSE: PARA CABLES, BOM: 530555], an Indian manufacturer of wires and cables, has announced its financial results for the first quarter of the 2022-23 financial year.
Paramount’s Consolidated Financial Performance
YoY Comparison of Paramount’s Financial Results: Q1 FY-23 vs. Q1 FY-22
Paramount Communications reported Rs. 163.73 crore as revenue from operations for the quarter ended 30th June 2022. This translates to an impressive YoY increase 69.86% as compared to the company’s revenue of Rs. 96.39 crore during the last quarter of 2021-22 financial year.
Profit After Tax (PAT) of the company for Q1 of FY23 rocketed by 810.10% YoY to Rs. 7.03 crore. This huge jump is due to the company’s reported loss of Rs. 0.99 crore during Q1 of the previous fiscal.
Paramount’s financials for Q1 of FY-22 are reflective of the pandemic-related difficulties that swamped the Indian cable industry. Year-over-Year (YoY) comparison of the company’s Q1 results exhibits a strong financial recovery.
Paramount Communications’ QoQ Financial Performance: Q1 FY-23 vs Q4 FY-22
On a Quarter-over-Quarter basis, the company’s revenue from operations was down by 10.62% from Rs. 183.18 crore grossed in Q4 of the previous fiscal.
PAT showed an upward trend, increasing significantly by 44.35% from Rs. 4.87 crore reported for the last quarter of 2021-22.
About Paramount Communications Ltd.: Paramount Communications, also known as Paramount Cables in industrial circles, has its headquarters in Delhi. The company manufactures a range of wires and cables, including Low Voltage and High Voltage cables, Multicore Cables, Extra High Voltage Cables, aerial bunch cables, control and instrumentation cables, battery and energy cables, and thermocouple extension and compensating cables.