Moldtek Packaging Limited, manufacturer of injection moulded rigid plastic packaging containers, has posted a net profit of ₹21.71 crore in the quarter ended June 30, 2022, as against ₹12 crore in the same quarter last year, showing a growth of 79.68 per cent.

It registered a revenue of ₹208 crore in the quarter, as against ₹134 crore in the comparable quarter last year, showing a growth of about 55 per cent.

“The volume and PAT [profit after tax] registered in the quarter are the highest in the history of the company. While the persistent inflationary environment continued to impact the gross margins, we delivered healthy operating margins with strong push on our IML packs and driving further operational efficiencies across all business segments,” J Lakshmana Rao, Chairman and Managing Director of Moldtek Packaging, said in a statement.

He said the company would invest ₹125 crore on capacity expansion this financial year, including the addition of 4,700 tonnes a year at its Sultanpur and Daman units, and 2,600 tonnes a year at Daman, Visakhapatnam, Hyderabad and Kanpur units.

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