Essel Propack's Q3 net up 7.4%

Propack Ltd, a global leader in laminated plastic tubes catering to the FMCG & Pharma space, posted 7.4% rise in its consolidated net profit at Rs 30.4 crore for the quarter ended December 2014 compared to Rs 28.3 crore in the corresponding quarter last year.

The consolidated revenue for the global operations during the quarter were up by 5.7% at Rs 567.4 crore as against Rs 536.8 crore in the same quarter previous year.

For the nine months period ended December, the company's consolidated revenue jumped by 10.9% to Rs 1711.2 crore whereas the consolidated net profit was up by 18.3% to Rs 95.2 crore.

Essel Propack vice chairman and managing director Ashok Goel attributed the growth in quarterly financial performance to change in business strategy.

"Our strategy for growing the non-oral care business is on track and has shown positive results. During the quarter under review, our non-oral care business grew by 15.2% over last year. However, the revenue was impacted by unusually lower off take in the oral care category during Q3FY15. In fact, Year to date revenue grew by 10.9% and net profit by 18.3%.