Universal Cables Q3 Net rises
Power Cables major, Universal Cables Ltd., a Company belonging to the M.P. Birla Group has clocked a quantum growth in Net Profit for the Quarter ended 31st December, 2009 at Rs. 6.79 Crores as compared to Rs. 0.09 Crore in the Quarter ended 31st December, 2008. Net Sales for the Quarter was also higher at Rs. 130.53 Crores compared to Rs.124.38 Crores in the same quarter, previous fiscal.
Mr. D.R. Bansal, CEO, attributed this handsome performance to improved product mix, smart back-to-back sourcing in the face of widely fluctuating metal & commodity markets and intensive cost management actions taken in the recent past like swapping of high interest bearing borrowings with lower ones, effective working capital management and energy conservation.
VCV – II Line, a capacity enhancement project undertaken by the Company in EHV Cables is progressing as per schedule and is slated to be operational by September, 2010, Mr. Bansal said.
Long duration Pre-Qualification (PQ) Test on 220 kV EHV Cable manufactured by the Company is currently undergoing at an overseas Laboratory, Mr. Bansal commented.
Besides this, the Company is also imparting rigorous on-site & off-site training to its employees on laying, installation and commissioning jobs of 220 kV Cables to have an edge over the competitors by in-house developing these capabilities in a cost effective manner to provide end-to-end solutions
Commenting on entry of some foreign players through collaboration route, a confident Mr. Bansal said that Universal Cables has a significant presence both in the niche and mass market segments since its establishment in 1964 and is well geared up to face competition. The Company has continuously moved on to expand, upgrade and diversify to stay ahead as one of the leading manufacturers of Power Cables in India.
With ongoing technology transfer from the world renowned Furukawa, Japan, its technology partners, the Company is constantly upgrading itself to meet present day requirements and to combat competition in a healthy manner.
With continuous focus on market penetration, technological upgradation, capacity enhancement and range expansion, Universal Cables, backed by competence and strong commitment, is fully geared to take on challenges in future, Mr. Bansal added. |
