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Business impacted due to commodity and currency movement, says Polycab India CEO R Ramakrishnan

Updated : May 15, 2019 05:25 PM IST

Polycab India's business was impacted due to commodity and currency movement, said R Ramakrishnan, CEO of the company, after the firm reported weak numbers in its first quarterly earnings post listing.

“Our EBITDA for the full year has increased by 100 basis points from 11.7 to 12.7. 18 percent is our revenue growth and we have hit nearly about Rs 8,000 crore on revenues,” said Ramakrishnan, adding that the wires and cables business grew by double digits in FY19.

“Fundamentally, we are taking care of our business in a very positive way; a revenue increase of about 18 percent for the company, specific businesses doing exceptionally well, overall PAT growth of about 40 percent, all this augurs well," he added.

On the revenue front, he said, “Government is only 3 percent of our direct business; our entire institutional business, which we do directly, is about 15 percent of our revenues and about 80 percent of our business happens through dealers, distributors and channel partners. So to that extent, we are on a good front.”
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