Precision Wires slumps after muted Q2 performance; board OKs 1-for-2 bonus issue

10 Nov 2022 , 02:57 PM

Total expense stood at Rs 706.38 (up 2.66% YoY), cost of raw material consumed was at Rs 638.50 crore (down 5.51% YoY), power and fuel cost stood at Rs 8.47 crore (up 28.66% YoY). Profit before tax in Q2 FY23 stood at Rs 19.63 crore, down by 5.3% from Rs 20.73 crore in Q2 FY22. The board of Precision Wires has approved a proposal to issue 1 bonus equity share for every 2 equity shares held by the shareholders of the company as on the record date. The bonus shares would be credited within 2 months from the date of approval in board meeting i.e. by 9 January 2023. Precision Wires India is engaged in manufacturing of enamelled round and rectangular copper winding wires, continuously transposed conductor(CTC) and paper/mica/nomex insulated copper conductor(PICC) which are used by the electrical/electronics industries. Powered by Capital Market – Live News