Polycab India experienced a 2 percent uptick in its shares during the opening trade on January 19, following the release of its Q3 earnings report.
The company reported a substantial nearly 16 percent YoY surge in net profit, reaching Rs 416.50 crore for the period. Q3 also marked a milestone for Polycab, achieving its highest-ever quarterly revenue at Rs 4,340 crore, reflecting a notable 17 percent growth compared to the previous year.
This remarkable increase in topline was attributed to robust volume growth in the wires and cables business. However, the operating margin saw a slight moderation to 13.1 percent in October-December, compared to 13.6 percent a year ago, primarily due to increased advertising and promotional expenditures.
As of 10:26 am, Polycab India’s shares were trading 0.14% lower at ₹4,430.00, indicating a nuanced market response following the morning trade.
