Cable NewsLatest NewsSpotlight

Universal Cables Q1 FY-24 Financials: Revenue Shrinks 7%, PAT Down 10% YoY

Universal Cables Unistar logo

Universal Cables Limited [NSE: UNIVCABLES, BOM: 504212], a part of the MP Birla Group and also known as Unistar, has posted its financial results for Q1 of FY-24.

Unistar’s Standalone Q1 FY-24 Financial Results

Universal Cables’ revenue from operations stood at Rs. 479.41 crore for Q1 of FY-24. Further, the company reported Rs. 9.16 crore as its Profit After Tax (PAT) for the opening quarter of FY-24.

Unistar’s Earnings Per Share (EPS) were reported as Rs. 2.64 for the quarter ended 30th June 2023.

Universal Cables’ Q1 FY-24 Consolidated Financial Results

YoY Comparison of Unistar’s Financials: Q1 FY-24 vs. Q1 FY-23

Comparison of Universal Cables’ Financials: Q1 FY 23 vs. Q1 FY 24 vs. Q4 FY 23

Universal Cables’ Q1 revenue from operations exhibited a Year over Year (YoY) decrease by 6.69% to Rs. 479.41 crore in FY-24 from Rs. 513.80 crore which was reported during FY-23.

The company’s PAT also followed suit, tumbling by 10.16% YoY to Rs. 24.05 crore in Q1 of FY-24 from Rs. 26.77 crore logged for Q1 of FY-23.

Unistar’s EPS decreased to Rs. 6.93 during Q1 of FY-24 from Rs. 7.72 reported for Q1 of FY-23.

QoQ Comparison of Universal Cables’ Financial Numbers: Q1 FY-24 vs. Q4 FY-23

On a Quarter over Quarter (QoQ) basis, the company’s revenue dropped by 17.75% from Rs. 582.87 crore, which was clocked during Q4 of FY-23.

Unistar’s PAT showed a massive decrease by 41.43% from Rs. 41.06 crore which had been reported for Q4 of FY-23.

Unistar’s Share Prices 14% Down After Announcing Q1 FY-24 Results

Universal Cables’ share prices tanked by 13.92% after the company announced its financials for Q1 of FY-24.

Further, post the announcement of Q1 FY-24 results, the volume of trades of Unistar’s shares grew to 3.57 times of its prior value.

About Universal Cables Ltd.: Universal Cables Limited was established in 1962, and is a leading Indian manufacturer of Electrical Cables. Their portfolio consists of Low Voltage, Medium Voltage, and Extra High Voltage XLPE Power Cables up to 500 KV grade, PVC and Rubber Insulated Power Cables up to 11 KV grade, Control and Instrumentation Cables, and more. Unistar also deals in the manufacturing of Power Capacitors in Low Tension / Low Voltage and high Tension / High Voltage ranges.