RR Kabel zooms ~11% as company posts robust numbers in Q2

7 Nov 2023 , 02:39 PM

RR Kabel’s stock rose as much as 11% to a new 52-week high of Rs 1,549.85 on the NSE on Tuesday after the company’s consolidated earnings improved to Rs 74.1 crore in the July-September quarter, up from Rs 35 crore the previous year.

Meanwhile, the company’s income from operations increased 17.7% year-on-year to Rs 1,609.70 crore in Q2FY24, from Rs 1,367.2 crore in Q2FY23.

In the current quarter, EBITDA increased by 92.7% to Rs 121.1 crore, up from Rs 62.8 crore in the previous quarter. The margin increased to 7.5% in the June-September period, up from 4.6% in the same quarter last year.

RRK is a prominent company in India’s consumer electrical business (including wires and cables and FMEG) and has been in the nation for over 23 years. RRK is the fifth largest participant in India’s branded wires and cables industry, with a 7% market share by value as of FY23 (up from 5% in FY15).

At around 2.36 PM, RR Kabel was trading 8.88% higher at Rs 1,527 per piece, against the previous close of Rs 1,402.50 on NSE.

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