CMI Ltd an­nounces Q1 re­sults

Power Watch India - - DESPATCHES FINANCE -

CMI Ltd, the lead­ing spe­cialty ca­bles man­u­fac­turer, an­nounced its unau­dited fi­nan­cial re­sults for the quar­ter ended 30th June 2016. The rev­enues are at Rs 7701.02 lakh in Q1 2017 as against Rs 4532.64 lakh in Q1 of 2016, mark­ing an in­crease of 69.9% on a stand­alone ba­sis. The rev­enues have also in­creased by over 7.32% on a QoQ ba­sis, up from Rs 7175.62 lakh of Q4 2016.

The Profit after Tax (PAT) is at Rs 550.15 lakh in Q1 2017, against Rs 283.87 lakh in Q1 of 2016, mark­ing an in­crease of 93.8% in prof­itabil­ity. The PAT has also in­creased by over 3.36% on a QoQ ba­sis, up from Rs 532.28 lakh of Q4 2016. The earn­ing per share (EPS) is Rs 3.86 in the quar­ter ended 30 June 2016, up from Rs 2.44 in Q1 2016. “The re­sults are in line with our ex­pec­ta­tions for the cur­rent fis­cal. The im­pact of our wholly-owned sub­sidiary, CMI En­ergy In­dia Pvt Ltd (for­merly Gen­eral Ca­ble En­ergy In­dia Pvt Ltd), will start be­com­ing vis­i­ble from Q2,” said Amit Jain, Chair­man and Man­ag­ing Direc­tor and CEO, CMI Ltd.

CMI Ltd had ac­quired For­tune 500 Com­pany Gen­eral Ca­ble Cor­po­ra­tion (GCC)’s In­dia op­er­a­tions in Fe­bru­ary 2016. Q1 saw the suc­cess­ful com­mis­sion­ing of the fa­cil­ity of CMI En­ergy In­dia Pvt Ltd. The com­pany has al­ready started bag­ging or­ders and will start gen­er­at­ing rev­enues from Q2 it­self.

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