MUMBAI: Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the second quarter of the financial year 2013-14.

Net Sales for the quarter ended September 30th 2013 were Rs 5874.5 million as against Rs 5795.8 million for the corresponding period in year 2012-13. In value terms Net Sales in the current quarter shows an increase of 1% compared to the corresponding period of the previous year.  In volume terms, Electrical Cables remained flat in the quarter ended September 2013, while Communication Cables grew by over 25%.

Profit for the quarter, before taxes, increased to Rs. 1024.3 million from Rs. 657.7 million in the previous year – an increase of 56%.
The Board was also informed that CRISIL has upgraded the ratings of the Company’s long term facilities to “AA+” with a stable outlook.