Polycab Q3 Results: Stock falls 7% after revenue miss but margins better than estimates

Cables and Wires manufacturer Polycab Ltd. reported December quarter results that were better than expectations on the operating front.

Net profit for the quarter stood at ₹464.3 crore, which was in-line with the CNBC-TV18 expectation of ₹450 crore. On a year-on-year basis, the company's net profit was flat.

Revenue for the quarter increased by 20.4% from last year to ₹5,226 crore. However, the figure was marginally lower than the CNBC-TV18 poll of ₹5,369 crore.

Polycab's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 26.5% from last year to ₹721 crore, which was better than the CNBC-TV18 poll expectations of ₹646 crore.

EBITDA margin for the quarter expanded by close to 70 basis points to 13.8%, and were also better than expectations of 12%.

Shares of Polycab fell as much as 7% but are attempting a recovery from the lows of the day. The stock is currently trading 5.8% lower at ₹6,178.