Finolex Cables Climbs to New High on Strong Earnings

• Shares of Finolex Cables witnessed a stellar surge of over 14% on Friday, reaching a record high.
• This jump comes on the heels of the company reporting impressive results for the fourth quarter ending March 2024 (Q4FY24).
• Finolex Cables exceeded expectations, boasting an 18.3% increase in revenue to ₹1,450.69 crore.
• Net profit also grew, rising 6.3% year-on-year to ₹186.1 crore.
• The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) too reflected strong financials, climbing 11.2% to ₹162 crore.
• This positive performance is likely a result of a combination of factors, including healthy demand and improved margins.