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.

EDITORIAL OF THE DAY

  • A sexist construction of women denies the man the chance of being a man, fully

    Salman Khan’s recent remark comparing what he felt when he walked out of the wrestling ring in his film Sultan with “a raped woman walking out”

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

The shame of rejecting our women

Recently, three young women broke into the elite male basti­on ...

Kuruvilla Pandikattu

Free food operation for the needy

Food is obviously a basic necessity. Recently a nob­le ...

Shona Adhikari

How Brexit will affect the world of art

The results of UK’s exit vote has led to a ...