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Polycab India Q1 net profit falls marginally to Rs 401.62 cr

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New Delhi: Wires and cables maker Polycab India Ltd on Thursday reported a marginal decline in consolidated net profit to Rs 401.62 crore in the June 2024 quarter, impacted by higher expenses.

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The company had posted a consolidated net profit of Rs 403.16 crore in the same period last fiscal, Polycab India said in a regulatory filing.

Consolidated revenue from operations stood at Rs 4,698 crore in the first quarter as against Rs 3,889.38 crore in the year-ago period, it added.

Total expenses were higher at Rs 4,223.06 crore compared to Rs 3,422.88 crore in the same period of the previous fiscal, the company said.

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The wires and cables segment clocked a revenue of Rs 3,942.12 crore in the first quarter, up from Rs 3,553.77 crore a year ago.

The fast moving electric goods (FMEG) segment had a revenue of Rs 385.49 crore over Rs 314.54 crore in the corresponding period in FY24, the company said.

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