Wires and cables maker Polycab India's consolidated net profit declined 9.49 per cent in the second quarter to Rs 200.52 crore. It had incurred a net profit of Rs 221.55 crore in the year-ago period.
Revenues went up 48 per cent to reach Rs 3,128.83 crore compared to Rs 2,113.68 crore recorded in the same quarter, last year. Its wire and cable business grew 46 per cent to Rs 2,548 crore in the second quarter. The company's fast-moving electric goods segment grew 41 per cent to Rs 342.9 crore.
"We had a healthy second quarter. Robust sales growth was underpinned by market share gains across categories. Given the strengthening macroeconomic fundamentals, we see a massive opportunity to spread our wings across B2B as well as B2C categories by leveraging on our strong brand equity and increased consumers affinity for our products," Polycab India chairman and managing director Inder T Jaisinghani added.
Shares of the company on Friday were closed at Rs 2,262 apiece, up 1.76 per cent on the BSE.
(With inputs from PTI)