Dynamic Cables reports a strong show in Q3, PAT zooms 4,500% to Rs 9.09 Cr
Dynamic Cables Limited (DCL), announced its results for third quarter and nine months FY22 ended December, 2021. The company has flexed its muscles with a strong growth in both topline as well as bottomline.
The company reported a more than 4,500 per cent rise in the net profit to Rs 9.09 crore for the quarter ended in December 2021, which was Rs 0.2 crore in the same quarter previous year. On a sequential basis (QoQ), its net profit jumped 16 per cent from Rs 7.85 crore in the September 2021 quarter.
The total revenue of Dynamic Cables jumped more than 62 per cent to Rs 144.05 crore in the third quarter of ongoing fiscal from Rs 88.69 crore in the corresponding period previous year. Total revenue rose 8 per cent on QoQ from Rs 133.82 crore in the second quarter of this fiscal year.
The company reported an earnings per share (EPS) of Rs 4.13 in the Q3 FY22, which was Rs 3.57 in Q2 FY22 and merely Rs 0.09 in Q3 FY21.
For the nine months ended on December 31, 2021, the net profit of the company advanced 400 per cent to Rs 22.42 crore from Rs 4.5 crore in the year ago period, with its EPS moving to Rs 10.18 from Rs 2.04 respectively.
Total revenue of the company rallied over 86 per cent to Rs 393 crore in April-December 2021 period from Rs 210.78 crore during the same period under review previous year.
For the financial year ended on March 31, 2021, the company reported a net profit of Rs 9.85 crore with a total revenue of Rs 350.68 crore. Its EPS stood at Rs 4.47 in FY 2020-21.
Financial Highlights for Quarter ended December 31, 2021:
* Total Revenue at Rs 144.05 crore
* Profit before Tax (PBT) at Rs 11.96 crore ;
* Profit After Tax (PAT) at Rs 9.09 crore;
* EPS at Rs 4.13 per share
Financial Highlights for the nine months ended December 31, 2021
* Total Revenues at Rs 393 crore;
* Profit before Tax (PBT) at Rs 30.12 crore ;
* Profit After Tax (PAT) at Rs 22.42 crore;
* EPS at Rs 10.18 per share
Commenting on the results, Mr. Ashish Mangal, Managing Director of Dynamic Cables Limited commented: In view of the continued sequential momentum, we not only were able to deliver robust business growth but were also able to create better traction in the market reflected in the healthy order book.
"We have further consolidated our position on the back of our strong ability of order execution, high-quality product range and robust investment to build our R&D capabilities. This quarter witnessed a comeback of growth in the institutional segment backed by recovery of industrial capex in the private sector and Government spending in the public sector," he added.
The company continues to deliver as per our narrative with regard to our focus on increasing profitability alongside business growth. We believe that it is the beginning of a new growth era for institutional cable demand backed by revival in capex cycle, Government spending and export traction, said the company management.