Finolex Cables sales up

Finolex Cables Ltd,(FCL) at the meeting of its board of directors held recently,approved results for the second quarter ended September 30.

Net sales stood at Rs 3,977.9 million as against Rs 3,649.8 million for the corresponding period a year ago. Net sales in the current quarter shows an increase of 9 per cent compared to the corresponding period of the previous year. Net sales for first half of the year was Rs 7,183.4 million as against Rs 7,622 million for the corresponding period of the previous year.

Profit for the quarter before exceptional Items increased significantly from Rs.87.0 million in the corresponding period of the previous year to Rs. 580.9 million.

Profit before Exceptional Items for the six months ended September 30,2009 is Rs.1044.3 million (previous year Rs.444.1 million).

Net Profit after taxes for the quarter was Rs.287.5 million (previous year was Rs 18.0 million).

Net profit after taxes for the six months is Rs. 505.5 million (previous year Rs.92.3 million)