Universal Cables' net profit increases by 16 per cent

Kolkata, Jan 29 (UNI) The net profit of Universal Cables Limited, an M P Birla Group company and a leading player in the power cable industry, has jacked up by 16 per cent to Rs 5.80 crore for the quarter ended December 31, 2007.

The turnover witnessed a 50 per cent growth at Rs 149.55 crore for that quarter compared to Rs 99.78 crore in the corresponding quarter previous year.

Elaborating upon the technological upgradation-cum-expansion project, using Vertical Continuous Vulcanisation (VCV) process for the first time in India, for the manufacture of XLPE power cables, Chairman R S Lodha said the project had been stabilised with excellent product quality.

The company was aiming at larger business volumes in Extra High Voltage (EHV) cable arena for which constant concenrated efforts were being made, he said adding the commissioning of the project had opened a new roadmap for the company to tap the emerging 220 KV and 400 KV power cable market.

Mr Lodha stated that the ongoing technology transfer from Furukawa Electric Co Ltd, Japan, had put the company in the forefront of technical advancements in the EHV power cable industry.

Foreseeing the surge in demand for optic fibre cable, the capacity enhancement, undertaken by the company, was successfully commissioned, trippling the capacity to 1.5 million fibre km per annum.

This had resulted in a robust growth in the segment, he informed.

UNI SJC KK KLC1730