Vindhya Telelinks’ Revenue Grows 82.47% QoQ to 572.93 Cr in Q2 FY-23
Vindhya Telelinks Ltd. [NSE: VINDHYATEL, BOM: 517015], an Indian cable manufacturer and part of the MP Birla Group, has announced its financials for the second quarter of the 2022-23 financial year.
Standalone Financial Numbers for Vindhya Telelinks
Vindhya Telelinks reported a standalone revenue of Rs. 572.93 crore from its operations for the quarter ended 30th September 2022.
Net standalone profit of the company for this period stood at Rs. 30.56 crore.
Vindhya Telelinks’ Consolidated Financial Results
Q2 FY 23 Revenue Grows Substantially, Profits Fall YoY
Vindhya Telelinks clocked a Rs. 572.93 crore consolidated revenue from operations during the quarter ended 30th September 2022. This reflects an impressive 78.12% growth YoY from the Rs. 321.66 crore revenue reported by the company for Q2 of the previous financial year.
Vindhya’s Q2 net profit took a Year-over-Year (YoY) hit and tanked by 51.96%, to Rs. 17.54 crore in FY-23 from Rs. 36.51 crore reported for the corresponding quarter of FY-22.
QoQ Comparison of Vindhya Telelinks’ Financials: Q2 FY-23 vs. Q1 FY-23
On a Quarter-over-Quarter (QoQ) basis, the company exhibited an exceptional revenue growth of 82.47% from its Q1 consolidated revenue of Rs. 313.98 crore.
Net Profit continued to show a downward trend, shrinking substantially by 54.07% from Rs. 38.19 crore clocked during the quarter ended 30th June 2022.
Vindhya Telelinks’ Consolidated Segment-wise Revenue
Cables: This segment reflected the highest YoY growth in revenue, which was by a staggering 114%. Cables contributed Rs. 226.41 crore to the company’s revenue during Q2 of FY-23, as against Rs. 105.80 crore in Q2 of the previous fiscal.
Vindhya’s cable business performed well on a QoQ basis too, with the segmental revenue up by 49.05% from Rs. 151.90 crore earned during the opening quarter of FY-23.
EPC: Vindhya Telelinks’ EPC business was responsible for 69.83% of the company’s Q2 FY-23 revenue, which stood at Rs. 400.07 crore for the quarter. This translates to a remarkable 81.62% YoY growth from the Rs. 220.28 crore EPC revenue clocked in Q2 of FY-22.
QoQ, growth in the company’s EPC segment revenue was even more pronounced, increasing by 93.39% from Rs. 206.87 crore reported for Q1 of the ongoing fiscal.
About Vindhya Telelinks Ltd.: Vindhya Telelinks was formed as a Public-Private venture between Universal Cables Limited and the Madhya Pradesh State Industrial Development Corporation Limited. The company started production in 1986 from its plant at Rewa, Madhya Pradesh. Vindhya Telelinks Ltd., which is a member of the MP Birla Group, manufactures a wide variety of cables such as Optical Fibre Cables, Copper Cables, Power Cables, Solar Cables and Telecom Fibre Accessories. The company also has a substantial EPC portfolio.