Ester Ind Q2 net up over four-fold to Rs 3.97 crore

Ester Industries today reported an over four-fold increase in net profit at Rs 3.97 crore for the quarter ended September 30, despite fall in sales.
The company had clocked a net profit of Rs 0.91 crore in the year-ago period.
Net sales reduced 16 per cent to Rs 202.21 crore from Rs 241.11 crore in the corresponding quarter last year, the company said in a statement.
"Current quarter results continue to reflect the strategic course correction measures initiated two years ago. Our efforts in R&D have started yielding positive results in performance," Ester Industries Chairman and CEO Arvind Singhania said.

He said the company has developed innovative product solutions and has already filed applications for registration of patents on seven products during the current year.
Ester Industries produces polyester films, engineering plastics and specialty polymers.
Shares of the company were trading at Rs 59.60 apiece, up 4.65 per cent from the last close on BSE.