Profit after tax rose 14 per cent over the year to Rs 70.65 crore as against Rs 62.02 crore last year.

The growth in turnover was aided by Finolex's two main product lines namely, jelly filled telephone cables (JFTC) and light duty electrical cables, the company's deputy managing director Deepak Chhabria said in a release here on Sunday.

JFTC sales increased by 20 per cent while that of light duty electrical cables increased by nearly 13 per cent, he said adding that the company's newer products radio frequency cables (co-axil) and local area network cables also performed reasonably well.

Selling prices, however, had not kept abreast with increases in costs thereby impacting the bottom line to some extent, Chhabria said.

Profit before tax for the year (after accounting for operating losses of its sheets division) was higher at Rs 94.65 crore against Rs 86.02 crore in the previous year.

Higher depreciation claim, as a result of the newly set up Goa unit, had enabled the company to maintain taxation at the same level as that in the previous year.