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Cords Cable reported 37% decrease in its bottom-line to Rs 1.31 crore in Q3FY'21 on 20% decrease in topline to Rs 90.08 crore compared to Rs 113.14 crore corresponding previous year period. OPM was up 60 bps to 10.8% leading to a 16% fall in operating profits to Rs 9.71 crore.
Other Income decreased 22% to Rs 26 lakh in Q3FY21 from Rs 34 lakh in Q3FY20 while interest cost fell 8% to Rs 6.34 crore and depreciation rose 13% to Rs 1.79 crore. As a result PBT was down 46% to Rs 1.84 crore. Effective rate of tax fell 1000 bps to 29% leading a 37% decrease in PAT to Rs 1.31 crore..
Consolidated Performance for nine months ended Dec'20
For nine months ended Dec20, consolidated net sales fell 31% to Rs 222.48 crore. The company operating margins increased 60 bps to 10.7%. As a result operating profits fell 27% to Rs 23.74 crore. Other income fell 7% to Rs 1.06 crore. Interest cost was down 16% to Rs 15.85 crore. Depreciation rose 6% to Rs 5.33 crore.
PBT was down 63% to Rs 3.62 crore. Effective tax rate was down 700 bps to 33%. PAT reported was down 59% to Rs 2.43 crore.
The scrip is currently trading around Rs 46 on the BSE
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