Plastics and textiles player, Sintex Industries has registered 24 per cent growth in the standalone net profit for the first quarter ended June 2014. On the standalone basis company's net profit increased to Rs 51 crore against Rs 41 crore reported in the corresponding quarter last year. Net sales increased to Rs 761 crore from Rs 615 crore last year.
On consolidated basis, company posted net profit of Rs 62 crore for the quarter under review against Rs 47 crore in the same quarter last year. The net sales increased to Rs 1,341 crore from Rs 1,124 crore last year.
The company informed that the infra segment posted robust 84 per cent growth (year-on-year) for the quarter ended June 2014 to Rs 11 crore against Rs 6 crore posted in the same quarter last year.
Its’ textiles business posted growth of 39 per cent during the comparable quarter from Rs 11 crore to Rs 15 crore, while custom moulding and building materials businesses grew by about 14 per cent and 12 per cent respectively.
“It has been a healthy quarter despite Q1 being a lean period. Particularly Prefabs strong growth momentum driven by social spending continues and the visibility appears to be robust.
Our custom moulding business has seen significant stride with French acquisition of Groupe Simonin. It will add significant value to our offerings," said Group CEO, Sunil Kanojia.