Shares of Finolex Cables Ltd surged 15.70 per cent in Tuesday's late trade to hit a 52-week high of Rs 1,225 after the company reported a strong performance for the June quarter, with consolidated net profit rising 53.14 per cent year-on-year (YoY). The stock was trading at Rs 1,211, up 14.37 per cent, at the time of publishing this article.
Finolex Cables' profit attributable to owners stood at Rs 249.04 crore in Q1 FY27, compared with Rs 162.62 crore in the corresponding quarter last year.
Revenue from operations increased 44.26 per cent YoY to Rs 2,013.15 crore during the quarter, from Rs 1,395.52 crore in Q1 FY26.
The company said electrical wire volumes increased 7 per cent during the quarter, with strong contributions from agricultural, industrial and solar applications.
In the communication cables segment, optic fibre cable volumes were "significantly higher" than the previous year. Finolex Cables added that higher realisations in the segment also supported margins.
However, the company said its copper rod plant was not operated during the quarter due to "very limited availability of fuel (LPG/PNG) due to the war in the Middle East". Limited fuel availability also affected volumes in its new product categories, it added.
Finolex Cables further highlighted that copper prices remained elevated during the quarter. The company said selling prices were increased in May.
The company said its expansion plans for the fibre draw facility are progressing as scheduled.
"Full capacity from the new plant (4 million fibre kilometres) is now expected to be on stream by Q3 of this fiscal," Finolex Cables said.
Finolex Cables is a manufacturer of electrical and communication cables in India. Its products are used across applications including automobiles, lighting, cable TV, telephones, computers, agriculture and industrial applications.
The company's product portfolio also includes electrical switches, LED-based lamps, fans, low-voltage MCBs, water heaters and electric irons.