Paramount Communications Q2 PAT up 166%

New Delhi, Oct 23 (UNI) Leading cable manufacturer Paramount Communications Ltd (PCL) has clocked 166 per cent increase in its net profit at Rs 11.10 crore for the second quarter ended September 30, 2006, as compared to Rs 4.16 crore during the same quarter last year.

The company's income from operations also rose by 114 per cent to Rs 88.92 crore from Rs 41.52 crore during the corresponding period.

''We have had a successful quarter, where our revenues have been driven by growth across segment with better earnings through improved productivity. Paramount would report a healthy growth going forward in both its top and bottom line on the back of successful business strategy,'' company's Chairman and CEO Sanjay Aggarwal said.

PCL is engaged in manufacturing LT power cables and this year would make a foray into High Tension power cables. It developed axle counter cables for the Railways and has also pioneered developing new products such as aerial bunch cables (ABC).

The company has two manufacturing units - at Dharuhera (Haryana) and Khushkera (Rajasthan) and is planning to set up a new unit in a tax-saving zone.

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