Polycab’s Q3 FY21 Net Profit Rises 19% YoY
Polycab India Limited, among the leading Indian companies engaged in the business of manufacturing and selling wires, cables and some fast moving electrical goods (FMEG), has announced its financial results for the quarter ended 31st December 2020.
Consolidated Financial Figures of Q3 FY21 v/s Q3 FY20
Polycab’s revenue grew up by 12% to Rs. 2,798.8 Cr. in Q3 FY21 as compared to Rs. 2,507.3 Cr. during same the previous year. Net profit of the company has also shot-up by 19.06% standing at Rs. 263.6 Cr. during Q3 FY21 in comparison to Rs. 221.4 Cr. during the period Q3 FY20.
Consolidated Financial Figures of Q3 FY21 v/s Q2 FY21
Polycab’s revenue grew up by 32.41% to Rs 2,798.8 Cr. in Q3 FY21 as compared to Rs. 2,113.7 Cr. in Q2 FY21. Net Profit of the company has gone up by 19% to Rs. 263.6 Cr. as compared Rs. 221.6 Cr. in Q2 FY21. This indicates a good come-back from the crisis caused by the Covid Pandemic.
Segment Wise Revenue of Polycab
Wires and Cables Business: The cables and wires business is the company’s bread and butter segment, and Polycab is the largest Indian player in this segment. Revenue rose marginally by 6% to Rs. 2,270.3 Cr. in Q3 FY21 from Rs. 2,150.2 Cr. in Q3 FY20.
FMEG Business: Revenue increased sharply by 41% to Rs. 305.5 Cr. in Q3 FY21 from Rs. 216.6 Cr. in Q3FY20.
Commenting on the company’s performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Ltd. said “We saw a great all-round performance in Q3 amidst lingering challenges. Business trends continue to improve and demand for B2C products remains buoyant with improving consumer sentiment. Accordingly, our top line has bounced back to growth along with considerable progress in return ratios, cashflow, financial position, distribution expansion and strategic initiatives”.
About Polycab India Ltd.: Polycab is a well-renowned wire and cable and FMEG manufacturer with over Rs 8,800 Cr. in annual revenue. Polycab has over 3,464 authorized dealers who in turn supply products to 1,51,000 plus retail outlets in India.