RR Kabel shares hit fresh high on 112% rise in Q2 profit

Shares of electrical cables maker RR Kabel Ltd hit their highest today after the firm announced its earnings for the quarter ended September 2023. The stock made its market debut on September 20, 2023. RR Kabel stock touched a fresh high of Rs 1533.20, rising 9.22% on BSE. Market capitalisation of the firm rose to Rs 17,216 crore. Total 1.33 lakh shares changed hands amounting to a turnover of Rs 19.62 crore.  

RR Kabel reported a 112% rise in its consolidated net profit to Rs 74.1 crore for the September quarter against Rs 35 crore in the September 2022 quarter.  

Revenue climbed 17.7% to Rs 1609.7 crore in the September 2023 quarter against Rs 1367.2 crore in the corresponding quarter of the previous fiscal.  

Operating profit margin in percentage terms rose to 7.5% in the last quarter against 4.6% in the September 2022 quarter. EBITDA or operating profit zoomed 92.7% to Rs 121.1 crore in Q2 against Rs 62.8 crore in the September 2022 quarter. Earnings per share rose to Rs 6.66 in the last quarter against Rs 3.15 in the September 2022 quarter.   

In terms of technicals, the relative strength index (RSI) of RR Kabel stands at 63.8, signaling it's trading neither in the overbought zone nor in the oversold zone. RR Kabel shares stand higher than the 5 day, 10 day, 20 day and 30 day moving averages.   

 The IPO of RR Kabel was open from September 13 to September 15 this year. Bids during the share sale were invited in a price band of Rs 983 to Rs 1,035 per share. Lot size of the IPO was a minimum of 14 shares and in multiples thereof. The stock of the wires and cables company listed at Rs 1,180, a 14% premium to its IPO price. The three-day IPO worth Rs 1,964 crore was subscribed 18.7 times on the last day. 

RR Kabel provides consumer electrical products used for residential, commercial, industrial, and infrastructure purposes. The company was incorporated in 1995.  

 

 

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