The Hindu Business Line : Essel Propack annual profit up 14.6 pc

ESSEL Propack, in its consolidated global operations, has reported a 14.6 per cent increase in its profit after tax at Rs 80.9 crore for the year ended December 2004, as compared to Rs 70.6 crore in the earlier year.

Revenues grew 16.2 per cent to Rs 676.6 crore in 2004 from Rs 582.2 crore in the earlier year. Overseas operations contributed 66 per cent to the revenues as compared to 60 per cent in the earlier year.

EBIDTA grew 12.75 per cent to Rs 188.2 crore from Rs 167 crore. The company declared a total dividend of Rs 9 per share, which is an increase of 12.5 per cent compared to the previous year. "The increasing contributions, year after year, from overseas operations, reflect our growing success in global markets. We believe this trend will continue in the time to come," Essel Propack said in a news release quoting its Vice-Chairman and Managing Director, Mr Ashok Goel.

The shift in the generation of revenues continues with the overseas operations reflecting accelerated growth during 2004. While Africa, West Asia and South Asia operations grew by 5.1 per cent during the year, East Asia Pacific grew by 11.8 per cent, Americas by 27 per cent and Europe by 237 per cent.

"Today we are in possession of multiple technologies - laminated tubes, plastic tubes and now minitubes, a new technology. This has given us the flexibility to cater to the diverse demands from varied customer segments, to deliver as per the specific customer needs. We envisage consistent growth in the time to come, which will be driven by the flexibility we offer," said Mr R. Chandrasekhar, CEO.

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Essel Propack annual profit up 14.6 pc