Rex Pipes and Cables Reports Stable Financials, Q2 Profit Shoots by 120% YoY

Rex Pipes & Cables Industries Ltd. (RPCIL) [NSE: REXPIPES] has announced its financial results for the half-year ended 30th September 2022.

For H1 of FY-23, the company reported a revenue of Rs. 51.48 crore from its operations, which is 1.27% higher than its Rs. 50.83 crore revenue earned during H1 of FY-22. Rex’s net profit for the half year ended 30th September 2022 was Rs. 1.87 crore, which is 120% higher than the Rs. 0.85 crore profit clocked during H1 of FY-22 by the company.

Comparing Rex’s financials on a Half year-over-Half year (HoH) basis reveals that from H2 of FY-22 to H1 of FY-23, the revenue of the company remained almost the same. The company’s revenue increased by a meagre 0.94% from Rs. 51 crore earned during H2 of FY-22.

Net profit of the company increased by 76.42% HoH from Rs. 1.06 crore in H2 of FY-22.