Traco Cable on revival path
The Hindu
Public sector company records ₹1.5-crore profit
The public sector Traco Cable Company Limited, established in 1965, is on a revival path with the company recording around ₹1.5-crore profit during the month of November even as the State government has raised the financial guarantee for the company from ₹51 crore to ₹100 crore on the basis of its performance.
The managing director of Traco Cable, Prasad Mathew, said the company expected a turnover of ₹190 crore during the current financial year with the performance of the company improving on all fronts. Modernisation of the facilities at Traco Cable’s Irumpanam and Thiruvalla units had helped the company improve its performance, Mr. Mathew added. All the three units of the cable company, including the one in Pinaray in Kannur district, are operating in profit now.
The modernisation of facilities has helped increase aluminium cable production to 9,000 tonnes. Besides power cables and conductors, production of covered conductors has also been launched at the Thiruvalla unit of the company. The production was launched by Industries Minister P. Rajeeve on August 31 as part of the State government’s 100-day intensive programme. The launch of the unit has had a positive impact on the performance of the company, Mr. Mathew added.
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