Paramount Cables Q3 net profit grows 54% to Rs 22 crore

New Delhi: Wires manufacturer Paramount Cables has reported a 54 per cent rise in its consolidated net profit at Rs 22.03 crore in the December quarter of the current fiscal, boosted by higher income.

It had posted a net profit of Rs 14.32 crore during the October-December quarter in the preceding financial year, the company said in an exchange filing on Saturday.

The company's total income rose to Rs 285.83 crore, up 29 per cent from Rs 221.99 crore in the year-ago period.

It's expenses stood at Rs 263.77 crore as against Rs 207.68 crore year on year.

Paramount Cables manufactures multi-core cables, low and high-voltage cables, besides extra-high-voltage cables for industrial applications.