Finolex clocks 122% jump in Q1 profit to Rs 50 crore

Tags: News
Finolex Industries, India’s largest manufacturer of PVC pipes, on Monday reported a 122 per cent jump in net profit at Rs 50.20 crore for the June quarter thanks to strong domestic sales.

The Pune-based company had clocked Rs 22.6 crore profit for the year-ago quarter. Its net income rose 18 per cent to Rs 663 crore, up from Rs 563 crore clocked last year.

“The company has achieved improved performance on strong domestic demand and better realisations,” Saurabh

S Dhanorkar, MD at Finolex Industries, Financial Chronicle. He said margins improved during the quarter on lower raw material costs.

“The demand for our products continued to be strong. Our initiatives in expanding network across India are paying rich dividends,” Dhanorkar said.

“The outlook for this year is positive as demand from the agricultural as well as the construction industry is expected to keep growing,” Dhanorkar said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Copy the characters (respecting upper/lower case) from the image.

EDITORIAL OF THE DAY

  • India would have done well not to supress the 'Bofors interview'

    Bofors is one case that refuses to go away two-and-half decades after it grabbed public attention and became a byword for political corruption, claimi

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Varun Dutt

THE BLAME GAME

In decision-making, the fundamental attribution error (FAE), also known as ...

Zehra Naqvi

Dignity of labour is dignity of life

M Rafi Khan, a retired police IG, used to ...

Gautam Gupta

Retailers have it tough, thanks to e-commerce

For the past few months our focus has been on ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture