KEI Industries, a leading player in the Indian cable industry, reported a significant increase in its second-quarter profit for the fiscal year 2023-24. The company’s net profit climbed 31% year-on-year (YoY) to Rs 140 crore, up from the same period last year.
The robust growth in profit is attributed to a strong operational performance and higher sales volume. The company’s revenue also witnessed a substantial increase, growing 21% YoY. This growth reflects the company’s strong market presence and its ability to navigate the challenging business environment.
The positive financial results had an immediate impact on the company’s stock price, which jumped 3% following the announcement. Investors reacted positively to the news, reinforcing their confidence in the company’s growth strategy and future prospects.
KEI Industries has been focusing on expanding its product portfolio and strengthening its distribution network across India. The company’s strong Q2 performance is a testament to the success of these strategic initiatives.
The company is optimistic about maintaining this growth momentum in the coming quarters. It plans to leverage its strong market position and continue investing in product innovation and network expansion.
