Polyplex Corp spurts on strong Q3 results, dividend bounty

Polyplex Corporation jumped 15.23% to Rs 867.05 after the company posted an 81.4% jump in consolidated net profit to Rs 224.73 crore on a 13.3% rise in net sales to Rs 1237.22 crore in Q3 FY21 over Q3 FY20.

Consolidated profit before tax grew by 77.9% to Rs 268.76 crore in Q3 FY21 over Q3 FY20. Current tax expense fell 20.1% to Rs 21.07 crore in Q3 FY21 over Q3 FY20. The result was announced after market hours yesterday, 9 February 2021.

Further, the company's board declared a special interim dividend of Rs 100 per share. Record date for the same has been fixed at 19 February 2021. The dividend yield stands at 13.28% on yesterday's closing price of Rs 752.45.

 

Polyplex Corporation is among the world's largest manufacturers of thin polyethylene terephthalate (PET) film.

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