February 10 2016, 18.35 PM IST || Pocket News Alert
CMI Limited, the leading specialty cables manufacturer, today announced its unaudited financial results for the quarter ended 31st December 2015.
The revenues are at Rs. 66.44 Cr in Q3 2015-2016 as against Rs. 36.78 Cr in Q3 of 2014-15, marking an increase of 80.66%. The revenues have also increased by over 15% on a QoQ basis, up from Rs. 57.57 Cr in Q2 2015-16.
The Profit after Tax (PAT) at Rs. 4.81 Cr in Q3 2015-2016, against Rs. 2.01 Cr in Q3 of 2014-15, marked an increase of 139% in profitability. The PAT has also increased by over 19.66% on a QoQ basis, up from Rs. 4.02 Cr of Q2 2015-16.
The earning per share (EPS) was Rs. 3.54 in the quarter ended December 31, 2015, up from Rs. 1.97 in Q3, 2014-15, marking an increase of 79.7%. The EPS for Q2 of 2015-16 was Rs. 3.21.
“We are on target to cross the top line of Rs. 225 Cr for this fiscal and are bullish on the future prospects of the sector as well as our company. We are confident that with our new acquisitions going on stream, we will exceed the industry CAGR by a wide margin" says Mr. Amit Jain, MD, CMI Limited.
CMI Ltd. is a leading specialty cable manufacturing company that is providing the much needed high quality cables for almost all sectors of the economy – be it infrastructure, Oil& Gas, Engineering, EPC, etc. CMI has acquired two facilities in the last six months, FL Smidth facility in Bawal, Haryana and General Cable Company’s facility at Baddi in Himachal Pradesh. Together, these two acquisitions will more than quadruple the production capacity for CMI Limited.
