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Sintex Industries Ltd on Monday said its consolidated net profit increased by 22 per cent and revenues by 25 per cent during the second quarter of 2011-12 ended September 30, compared with the corresponding period in the previous fiscal .
While sales were at Rs 1,153.6 crore (Rs 920.6 crore), the profit after tax (PAT) stood at Rs 98.41 crore (Rs 79.83 crore), said Mr Amit Patel, Managing Director.
On Monday, the share price of Sintex Industries at the BSE closed 0.39 per cent down at Rs 115.10.
On account of global recessionary fears and currency volatility witnessed in the rupee, Sintex's results reflect the impact of strengthening of the US dollar v/s the Indian rupee on utilised amount of FCCBs for the quarter under review, he said.
A reconciliation of consolidated PAT shows that the reported net profit of Rs 38.80 crore (Rs 100.11 crore) increased to Rs 98.41 crore (Rs 79.83 crore) during the period under review, with the addition of exceptional foreign exchange loss/gain on FCCBs maturing in March 2013, he added.
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