Dynamic Cables Limited (DCL), announced its results for the third quarter and nine months FY22 ended December 2021. The company has flexed its muscles with strong growth in both toplines as well as the bottom line. The company reported a more than 4,500 percent 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 the previous year. On a sequential basis (QoQ), its net profit jumped 16 percent from Rs 7.85 crore in the September 2021 quarter.
The total revenue of Dynamic Cables jumped more than 62 percent to Rs 144.05 crore in the third quarter of the ongoing fiscal from Rs 88.69 crore in the corresponding period the previous year. Total revenue rose 8 percent on QoQ from Rs 133.82 crore in the second quarter of this fiscal year. The company reported earnings per share (EPS) of Rs 4.13 in 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 percent 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 percent to Rs 393 crore in April-December 2021 period from Rs 210.78 crore during the same period under review the previous year. For the financial year ended on March 31, 2021, the company reported a net profit of Rs 9.85 crore with total revenue of Rs 350.68 crore. Its EPS stood at Rs 4.47 in FY 2020-21.
Commenting on the results, 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 a revival in capex cycle, Government spending, and export traction, said the company management.”
