Financial Daily from THE HINDU group of publications
Sunday, Oct 23, 2005
Financial Daily from THE HINDU group of publications Sunday, Oct 23, 2005 |
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Corporate Results
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Packaging Essel logs 32.6 pc rise in Q3 net Our Bureau
Mumbai , Oct. 22 ESSEL Propack Ltd has reported a 3.09 per cent rise in its consolidated net profit for the third quarter ended September 30, 2005, to Rs 23.3 crore from the previous corresponding Rs 22.6 crore. Net sales/income from operations was up 18.69 per cent to Rs 209.5 crore (Rs 176.5 crore for the year ago quarter). For the fiscal so far, net profit increased 6.93 per cent to Rs 63.2 crore (Rs 59.1 crore) on a 25.87 per cent gain in net sales/income from operations to Rs 596.9 crore (Rs 474.2 crore). For the third quarter, the company's Indian operations reported a 32.67 per cent rise in net profit to Rs 13.4 crore (Rs 10.1 crore) on a 23.15 per cent gain in net sales/income from operations to Rs 68.1 crore (Rs 55.3 crore). Same parameters for the fiscal so far were a 10.16 per cent increase in net profit to Rs 34.7 crore on a 15.67 per cent rise in net sales/income from operations to Rs 187.5 crore (Rs 162.1 crore). "Indian operations are reflecting a revival of volumes. This is due to the special emphasis placed on pharmaceutical segment with mini-tubes and cosmetics segment with co-extruded tubes. These areas will contribute significantly to the growth in India,'' an official statement said. According to it, volumes in China have remained steady. "While we have performed consistently globally, the most encouraging factor is the improved performance in Indian operations. The broadening of product offerings with special emphasis on pharmaceuticals and cosmetics segments, has started showing positive results,'' Mr Ashok Goel, Vice-Chairman & Managing Director, EPL, has said. In China, the volumes have remained steady. The company said it continued its efforts at further cost reduction and efficiency improvements. In the Philippines, volumes are growing, following capacity addition.
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