Paramount’s Stellar Q2 FY23 Growth: Revenue Up 53.94% YoY, PAT Grows to 12.62 Cr.
Paramount Communications Limited [NSE: PARA CABLES, BOM: 530555], a Delhi-headquartered cable manufacturer, has announced its financial results for the second quarter of the 2022-23 financial year.
Q2 FY23 Financial Performance for Paramount Communications
YoY Comparison Reflects Exceptional Performance: Q2 FY-23 vs. Q2 FY-22
Year-over-Year (YoY) comparison of Paramount’s financials reflects a 53.94% growth in its consolidated revenue from operations, which stood at Rs. 212.57 crore for Q2 of FY-23. This number was at Rs. 138.09 crore for the corresponding quarter in the previous financial year.
The company’s Q2 PAT exhibited a staggering 693.71% YoY growth, to Rs. 12.62 crore in FY-23 from Rs. 1.59 crore during FY-22. This translates to almost eight-fold (7.94 times) increase in Paramount’s profits.
Paramount’s QoQ Performance on an Upward Trajectory: Q2 FY-23 vs. Q1 FY-23
Paramount’s financials have been strong on a Quarter-over-Quarter (QoQ) basis.
Revenue from operations increased by a healthy 29.83% QoQ from Rs. 163.73 crore earned during the quarter ended 30th June 2022.
The company’s PAT shot up by 79.52% during Q2 as compared to its Q1 profit of Rs. 7.03 crore in the ongoing fiscal.
About Paramount Communications Ltd.: Paramount Communications is a part of the Paramount Cables Group, and it indulges 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.