Packaging solution provider Cosmo Films today reported over four fold increase in consolidated net profit to Rs 18.42 crore for the quarter ended June 30, on the back of high margins and improved efficiencies.
The company had a net profit of Rs 3.90 crore in the same period last fiscal, Cosmo Films said in a BSE filing.
However, the company's total income from operations was down 7.78 per cent during the quarter under review to Rs 408.94 crore as against Rs 443.45 crore in the same quarter last year.
"We attribute this quarter's performance to our constant focus on high margin specialty products, overall improvement in biaxially oriented polypropylene (BOPP) films demand and our efforts to rationalise costs and improve efficiencies.
We anticipate continued strong demand for BOPP films in coming years and as part of this belief, we intend to expand our BOPP production capacity over the next few years to support company's growth plans," Cosmo Films CEO Pankaj Poddar said.
Shares of Cosmo Films were trading at Rs 166.80, up 5.04 per cent from their previous close at BSE.
