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Paramount Q3 FY-24 Financials: Revenue Grows 30%, PAT Jumps 53% YoY

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Paramount Communications Limited [NSE: PARACABLES, BOM: 530555], a Delhi-based cable manufacturing company, has announced its financials for Q3 of FY-24.

Paramount’s Standalone Q3 FY-24 Financials

Paramount Communications reported a revenue of Rs. 275.34 crore from operations during Q3 of FY-24. Further, the company recorded Rs. 21.90 crore as its standalone Profit After Tax (PAT) for third quarter of FY-24.

Earnings Per Share (EPS) of the company stood at Rs. 0.80 during Q3 FY-24.

Paramount Communications’ Q3 FY-24 Consolidated Financial Performance

YoY Comparison of Paramount’s Financials: Q3 FY-24 vs. Q3 FY-23

Paramount Communication’s Financials: Q3 FY-23 vs. Q3 FY-24 vs. Q2 FY-24

On a Year-over-Year (YoY) basis, Paramount’s revenue grew by 30.34% to Rs. 284.25 crore during Q3 FY-24 from Rs. 218.09 crore earned during Q3 of FY-23.

Following the same upward trend, the company’s PAT jumped by 53.84% YoY to Rs. 22.03 crore during Q3 of FY-24 from Rs. 14.32 crore during Q3 of FY-23.

Moreover, EPS of the company increased to Rs. 0.81 in Q3 of FY-24 from Rs. 0.72 reported during Q3 of FY-23.

QoQ Comparison of Paramount’s Financial Results: Q3 FY-24 vs. Q2 FY-24

Quarter-over-Quarter (QoQ) comparison of Paramount’s revenue shows an increase of 12.60% from Rs. 252.44 crore which was logged during Q2 of FY-24.

PAT of the company also represented an upward trend, increasing by 13.03% from Rs. 19.49 crore which was reported during second quarter of FY-24.

Segment-Wise Revenue Comparison of Paramount Communications

Paramount’s Wire and Cable Segment Revenue: Q3 FY-23 vs. Q3 FY-24 vs. Q2 FY-24

Wire and Cables: Paramount reported a revenue of Rs. 275.34 crore from its Wire and Cables segment during Q3 of FY-24. This represents an increase of 26.25% from the company’s Rs. 218.09 crore revenue logged for Q3 of FY-23.

Paramount’s Pipes Segment Revenue: Q3 FY-23 vs. Q3 FY-24 vs. Q2 FY-24

On a QoQ basis, the company’s Wire and Cables revenue jumped by 10.01% from Rs. 250.28 crore during Q2 of FY-24.

Pipes: Paramount Communications had acquired Valens Technologies Private Ltd. in August 2023, which was a manufacturer of High-Density Polyethylene (HDPE) pipes. Paramount started manufacturing HDPE pipes in second quarter of FY-24 after acquiring Valens Technologies.

The company’s pipes segment bought in a revenue of Rs. 8.91 crore in Q3 of FY-24, against Rs. 2.15 crore during Q2 of FY-24, representing an increase to 4.14 times on a QoQ basis.

Paramount Communications’ Stock Gains Over 3% Post Announcement of Results

On the next trading day after the announcement of results, Paramount Communications’ share price recorded a 3.02% jump from the previous trading day.

Further, volume of trades of company’s shares peaked at 29,60,000 on the trading day after the company announced its Q3 FY-24 financial results against, 15,36,000 trades on the day before announcing the financials, thereby, representing a 92.71% jump.

Paramount Communications’ Order Book Crosses Rs. 400 Cr.

Paramount stated in its earnings release for Q3 of FY-24 that as of December 31st, 2023, the company’s order book stood at Rs. 443.5 crore. The breakdown of Paramount’s order book reveals a diversified order mix, with Rs. 268.80 crore worth of orders for power cables, Rs. 7.70 crore worth of orders for Telecom cables, and Rs. 6.50 crore of House wire orders. Further, Paramount’s order book also includes orders worth Rs. 85.90 crore from railways, Rs. 52.5 crore of export orders, and Rs. 16.5 crore worth of orders for pipes. Additionally, telecom, house wire, and EPC projects contributed a total of Rs. 19.8 crore to the order book.

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 Railway Cables, High Voltage & Low Voltage Power Cables, Fire Survival Cables, Instrumentation & Data Cables, Specialised Cables, Optical Fiber Cables and Telecom Cables. The company has two manufacturing facilities one of which is situated in Khushkhera, Rajasthan, while the other is in Dharuhera, Haryana.