Small-cap stock engaged in the business of manufacturing Wires and Cables hit a 5 percent upper circuit in the day’s trade following the release of its Q3FY24 results with a 53.87 percent jump in Net Profit.
With a market capitalization of Rs. 3,113 Crores, the shares of Paramount Communications Limited hit a 5 percent upper circuit at Rs. 111.40 from its previous day’s close price of Rs. 106.10.
Its revenue from operations grew by 30.34 percent YoY from Rs. 218.08 Crores in Q3FY23 to Rs. 284.25 Crores in Q3FY24 and it grew 12.60 percent QoQ from Rs. 252.43 Crores in Q2FY24 to Rs. 284.25 Crores in Q3FY24.
Its Net Profit grew by 53.87 percent YoY from Rs. 14.31 Crores in Q3FY23 to Rs. 22.02 Crores in Q3FY24 and it grew 13.03 percent QoQ from Rs. 19.48 Crores in Q2FY24 to Rs. 22.02 Crores in Q3FY24.
Paramount Communications Limited is engaged in the business of manufacturing Wires and Cables comprising power cables, telecom cables, railway cables, and specialized cables.
Paramount Communications Limited has an expansive portfolio comprising over 25 distinct products and an array of over 2,500 SKUs. It has a wide presence with over 250 retail points and 5000+ active partnerships with electricians across the country.
It has an order book of Rs. 443 Crores and its revenue mix as of Q3FY24 is as follows, Power Cables 44.8 percent, Railway Cables 16.8 percent, Domestic Wires 5.8 percent, Telecom Wires 5 percent, Pipe & Others 4.2 percent, EPC Projects 1.8 percent, and exports 21.6 percent.
Written by: Bharath K.S
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