Paramount Communications Q1 FY07 net up 127%

New Delhi, Aug 1 (UNI) Paramount Communications Ltd, a cable manufacturing company, today registered an impressive growth of 127 per cent in its net profit at Rs 5 crore in the first quarter ended June 30, 2006, as against Rs 2.2 crore in the corresponding quarter of previous year.

The company's revenues also rose by 49 per cent at Rs 40.1 crore in Q1FY07 as compared to Rs 26.9 crore in Q1FY06.

''Company has been able to procure Copper at very low prices based on advance bookings. It has Rs 75 crore orders in hand and more than Rs 110 crore orders are in pipeline. The topline and overall performance of the company in next quarters of the current financial year is expected to improve drastically,'' Paramount Communications Chairman and CEO Sanjay Aggarwal said.

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