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New Delhi: Dynamic Cables has reported about a 59 per cent jump in its standalone net profit to 8.48 crore for the quarter ended March 2022, boosted by higher income.

The company had clocked 5.34 crore net profit a year ago, it said in a regulatory filing on Monday.

Total income increased to 173.29 crore in the quarter under review from 139.90 crore in the fourth quarter of FY21.

In the 2021-22 fiscal, net profit rose to 30.90 crore from 9.84 crore in the preceding financial year.

The company had clocked a record turnover of 566.29 crore in FY22 compared to 350.67 crore in 2020-21.

In a separate statement, the company's Managing Director (MD) Ashish Mangal said: "Our performance in the fourth quarter and FY22 was driven by operational improvement as a result of lean manufacturing practices, selecting the right set of business, cost optimisation and increase in productivity. We look forward to further consolidate our position amongst the mid-tier cables suppliers".

With a cash flow of 64 crore from operations, the company was able to substantially reduce its debt and fund capex, he said.

According to the company, "Debtors outstanding as on March 31, 2022, was 159.30 crore against 139.29 crore on December 31, 2021".

The company has an order book of 242.68 crore at present.

Dynamic Cables Ltd is a manufacturer of power infra cables that includes LT, HT, EHVC, power control and instrumentation cables, flexible and industrial cables, solar cables and railway signalling cables.

Shares of the company were trading 1.47 up at 124.10 apiece on BSE. 

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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