Paramount Cables reported a 74% rise in Q1 PAT to Rs 25.3 crore driven by higher revenues. The company saw robust demand in both domestic and international markets.
New Delhi, Aug 9 (PTI) Industrial wire maker Paramount Cables on Friday posted a 74 per cent rise in its consolidated profit after tax to Rs 25.3 crore during the June quarter, on account of higher revenues.
It had reported Rs 14.5 crore Profit After Tax (PAT) in the April-June period of the preceding 2023-24 fiscal, the company said in a statement.
The company's total revenues rose to Rs 324.2 crore, up 52 per cent from Rs 212.2 crore in the year-ago quarter.
The railways and power cables contributed 37.5 per cent and 19.9 per cent respectively to the revenues.
"In Q1FY25, our company saw significant revenue growth. This impressive growth was driven by robust demand for our products in both domestic and international markets, with a healthy recovery in the USA markets. We are optimistic about maintaining this growth trajectory throughout FY25," a company spokesperson said.
Paramount Cables manufactures multi-core cables, low and high-voltage cables, besides extra-high-voltage cables for industrial applications.
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