Finolex Cables has reported a 64.34 percent jump in standalone net profit at 104.8 crore for the second quarter ended September 30, helped by higher other income. The company had posted a net profit of 63.77 crore for the corresponding period of the previous fiscal. Total income from operations of the company declined to 614.23 crore for the quarter under consideration, down 4.09 percent, as against 640.49 crore for the same period a year ago. Other income during the quarter doubled to 55.23 crore as against 26.89 crore reported a year ago.
'The expansion and diversification plans the company had undertaken at the beginning of the year are on-track and significant progress is being made to achieve the defined goals. Although planned upgradation and expansion has led to anticipated dip in the turnover during the quarter, however, it has paved the path for bright and sustainable future. To be in line with the vision of the company to have a global footprint, the company has joined the elite league of fistful companies across the globe that export optical fiber cable to China and see tremendous potential in the overall Chinese market. Under e-governance initiative, booking of 10,000 kiosks is a remarkable achievement.'
Deputy Managing Director,