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Rising input material cost and expenses have impacted Manjushree Technopack Limited profits for second quarter (Q2) of 2014-15.
The company has posted 33.84 per cent lower profits in Q2 at ₹1.72 crore as against ₹2.60 crore during the same period last year. As for as the company’s total sales it is higher by 22.10 per cent at ₹123.08 crore as against ₹100.80 crore recorded last year. EPS (basic) stood at ₹1.27 (last year ₹1.92).
New verticals Announcing the results, Vimal Kedia, managing director, said “This quarter has seen steady growth in net sales. Increased material cost and expenses have led to drop in bottom-line.” However, with continued demand from FMCG and beverage industries for PET packaging and our increased exposure to new verticals like liquor, dairy and pharma, we expect to do better in the coming quarters,” he added. The company’s profits continue to be under pressure due to soaring cost and expenses. The efforts will be made to arrest the expenses to reduce the impact in the coming quarters.
Manjushree works with brands such as Coca-Cola, Pepsi, Bisleri, Cadburys, Unilever, GSK and P&G among many others.
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