FINOLEX CABLES LIMITED by enk46822

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									FINOLEX CABLES LIMITED

PRESS RELEASE

FINOLEX CABLES LTD RESULTS

    Sales grew 75% in the quarter as compared to the corresponding quarter of
     the previous year.
    Operating Profit (Before Exceptional Items) for the quarter grew from a Loss
     of Rs 157.8 million a year ago, to Rs 352.7 million.
    For the 9 month period, Operational Profit grew from Rs 582.9 million a year
     ago to Rs 1397 million.

Pune, January 15, 2010

Finolex Cables Ltd., (FCL) at the meeting of its Board of Directors held today approved results for the
third quarter ended 31st December 2009.

Net Sales for the quarter ended December 2009 were Rs 4134.9 million as against Rs 2359.5 million
for the corresponding period in year 2008-09. Net Sales in the current quarter shows an increase of
75% compared to the corresponding period of the previous year. Net sales for first 9 months of the
year stood at Rs.11318.3 million as against Rs.9981.6 million for the corresponding period of the
previous year, registering an increase of 14% over the corresponding period of the previous year.

Profit for the quarter before Exceptional Items increased significantly to Rs. 352.7 million as compared
to a Loss in the corresponding period of the previous year of Rs. 157.8 million. Profit before
Exceptional Items for the nine months ended December 31, 2009 is Rs. 1397 million (previous year
Rs.582.9 million).

Net Profit after taxes for the quarter was Rs.122.8 million (previous year was a Loss of Rs 474.5
million). Net profit after taxes for the period ending December 31, 2009 is Rs.630.3 million (previous
year was a Loss of Rs.382.2 million.)

Highlights of the business during the quarter ended 31st December 2009 are as under:

      The Company’s Light Duty Cable products in the Electrical Cable Segment has shown
       significant growth both in tonnage and value over the corresponding period of previous year.
       Sales growth in tonnage terms has been 43% over the corresponding quarter of previous year.
      Plans announced at the end of the previous quarter in respect of capacity enhancement at the
       Company’s Roorkee and High Voltage Power Cable plants are progressing satisfactorily. As per
       plan the Company expects volumes to increase by 50% from Roorkee in the next financial year.
       The additional capacity from the High Voltage Power Cable plant will be available for sale from
       Q3 in the next financial year.
      In the Communication Cables segment, Optic Fibre Cable sales showed positive growth
       compared to the same quarter of the previous year, Fibre sales tripled in volume in comparison
       with the same of quarter of the previous year. However, in respect of the JFTC business, there
         were minimal sales since there were no new tenders from BSNL/MTNL.
   .

ABOUT FCL

Finolex Cables Limited is India's largest and leading manufacturer of Electrical and Communication
cables. Finolex offers a wide range of Electrical and Communication cables. Its wire and cable
products are used in applications such as automobile, lighting, cable TV, telephone and computers to
industrial applications touching every person in his daily life. Finolex has added Electrical Switches
and Compact Flourescent Lamps to its range of products.




   FINANCIAL HIGHLIGHTS

                                                                             (Rs. in million)
                                                       Quarter Ended         Quarter Ended
                                                       31.12.09              31.12.08
       Net Sales / Income from Operations              4134.9                2359.5
       Other Income                                    29.8                  17.3
       Profit before Exceptional item, Interest,       485.3                 4.3
       Depreciation and Tax
       Deductions for :
           Exceptional Item                           108.7                 378.2
           Interest                                   36.1                  75.2
           Depreciation                               96.5                  86.9
       Profit before Taxation                          244.0                 (536.0)
       Tax Expenses                                    (121.2)               61.5
       Net Profit                                      122.8                 (474.5)

								
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