CMI Limited, the leading specialty cables manufacturer, today announced its unaudited financial results for the quarter and half year ended 30th September 2016.
On standalone basis, the revenues are at Rs.8277.64 Lakh in Q2 2016-2017 as against Rs.5749.53 Lakh in Q2 of 2015-16, marking growth of 43.97%. The revenues have also increased by over 7.49% on a QoQ basis, up from Rs.7701.02 Lakh of Q1 2016-17. The revenues on consolidated basis stand at Rs.9311.81 Lakh in Q2 2016-2017 up 61.96% on YoY basis and 19.88% on QoQ basis.
On standalone basis, Profit after Tax (PAT) was at Rs.555.51 Lakh in Q2 2016-2017 as against Rs.402.18 Lakh in Q2 of 2015-16, marking an increase of 38.12%. PAT has also increased by over 0.97% on a QoQ basis, up from Rs.550.15 Lakh of Q1 2016-17. On consolidated basis, PAT was Rs.303.00 lakhs up 98.69% on QoQ basis and down by 24.66% YoY basis. Consolidated PAT was down due to Loss reported by Wholly owned subsidiary, CMI Energy Private Limited( formerly Known as General Cable Energy India Private Limited) which was acquired by CMI Limited on 29th February, 2016 from General Cable USA ( A Fortune 500 Company). However, on consolidated basis, Cash Profit was Rs.568.80 Lakh during this quarter as against Rs.433.28 Lakh in Q2 of 2015-16 registering a growth of 31.28% QoQ.
The earning per share (EPS) was Rs. 3.82 in the quarter ended September 30, 2016, up from Rs. 3.21 in Q2, 2015-16. On a consolidated basis, EPS was Rs. 2.09, up from Rs. 1.20 in Q1, 2016-17.
“The integration and consolidation of operations post acquisition of General Cable facility is on expected lines and we continue to have a robust order book. CMI Energy India Private Limited gave positive EBITDA in Q2 which is encouraging. Our new products have found good acceptance not only in the domestic market but internationally as well”, says Mr. Amit Jain, Chairman and Managing Director and CEO, CMI Limited.