Financial Daily from THE HINDU group of publications
Thursday, Apr 21, 2005
Financial Daily from THE HINDU group of publications Thursday, Apr 21, 2005 |
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Corporate Results
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Packaging Essel Propack Q1 net up at Rs 19.6 cr Our Bureau
Mumbai , April 20 ESSEL Propack has reported a net profit of Rs 19.6 crore for the first quarter of 2005 against Rs 18 crore in the year-ago period. Sales touched Rs 190.5 crore against Rs 152.1 crore in the year-ago period. The company attributed this to its improved performance in the major markets of US and China, coupled with the increased turnover from Arista Tubes, UK, the plastic tubes manufacturing company acquired in August 2004. Its international operations have contributed 67 per cent to the consolidated revenue, up from 63 per cent in March 2004. "The trend of increased share of overseas operations to our consolidated revenues will continue. The recent commencement of commercial production at our Russian plant is a significant step towards our future growth,'' a news release said quoting Mr Ashok Goel, Vice-Chairman and Managing Director, Essel Propack.
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