Visit http://indiaer.blogspot.com/ for complete details Finolex Cables
Finolex Cables announced its 2QFY2011 results. The top line increased by 21.2% yoy to
`490.6, which was slightly below our expectations. However, OPM remained subdued at
8.5% against our expectations of 9.5%. Exceptional losses came in at `12.1cr for the
quarter. As a result of lower-than-expected sales and OPM, PAT declined by 34.1% yoy to
`18.9cr. Currently, the numbers are under review. However, we maintain Buy on the stock.
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