Paramount’s Q3 Revenue Soars 33.57% YoY, Q3 Profit Grows over Five-Fold
Paramount Communications Limited [NSE: PARACABLES, BOM: 530555], a Delhi-based cable manufacturer, has announced its financial results for the quarter ended 31st December 2022.
Paramount’s Standalone Financials for Q3 of FY-23
Paramount Communications reported a standalone revenue of Rs. 218.09 crore from its operations during the third quarter of the 2022-23 financial year.
Profit After Tax (PAT) of the company stood at Rs. 14.32 crore for Q3 of FY-23.
Consolidated Financial Results for Paramount Communications
YoY Comparison of Paramount’s Financial Figures: Q3 FY-23 vs. Q3 FY-22
Paramount’s Q3 revenue shot up impressively by 33.57% from FY-22 to FY-23. The company’s consolidated revenue from operations for Q3 of FY-23 was Rs. 218.09 crore against Rs. 163.28 crore revenue clocked during Q3 of the previous fiscal.
The company’s Q3 PAT in FY-23 was Rs. 14.32 crore, which is more than five times its Rs. 2.74 crore PAT in Q3 of FY-22.
QoQ Comparison of Paramount Communications’ Financials: Q3 FY-23 vs. Q2 FY-23
On a Quarter-over-Quarter (QoQ) basis, the company’s revenue from operations increased slightly by 2.6% from Rs. 212.57 crore clocked in the quarter ended 30th September 2022.
Paramount’s PAT exhibited a healthy growth by 13.47% from Q2 to Q3 of the current financial year. The company’s net profit stood at Rs. 12.62 crore for the second quarter of FY-22.
About Paramount Communications Ltd.: Paramount Communications is a part of the Paramount Cables Group, and it 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.