Cable-maker CMI’s Q1 sales up 70% to Rs 77 crore

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Shimla, Aug 16 (IANS) Cable maker CMI Ltd. said on Tuesday its revenues in the quarter ended June grew 69.9 per cent to Rs 77.01 crorefrom Rs 45.32 crore in the corresponding quarter of the previous year.

Profit after tax was Rs 5.50 crore in April-June 2016 against Rs 2.83 crore in the first quarter in the last fiscal, a growth of 93.8 per cent, said a statement issued by the BSE-listed CMI Ltd.

The profit after tax grew 3.36 per cent on a quarter-on-quarter basis over Rs 5.32 crore recorded in the quarter ended March 2016.

The earning per share was Rs 3.86 in the quarter ended June, up from Rs 2.44 in the first quarter of 2015-16.

The company announced in April the start of production at its new facility in Baddi in Himachal Pradesh, which is part of the recently-acquired General Cable Energy Private Ltd from General Cable Corporation.

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