Business Standard

Finolex Industries net profit rises over 10% to Rs 111 crore in Q1

Pipes maker Finolex Industries reported over 10 per cent growth in net profit at Rs 110.88 crore in the June quarter, even though the income declined a notch to Rs 1,179.2 crore from Rs 1,189.8 crore.

Finolex Industries net profit rises over 10% to Rs 111 crore in Q1

Its volume, primarily pipes and fittings, rose 28.1 per cent to 92,181 tonnes from 71,960 tonnes a year ago, the Pune-based company said in a statement.

Press Trust of India Mumbai

Listen to This Article

Pipes maker Finolex Industries on Wednesday reported over 10 per cent growth in net profit at Rs 110.88 crore in the June quarter, even though the income declined a notch to Rs 1,179.2 crore from Rs 1,189.8 crore.
The 10.8 per cent spike in bottomline was helped by a healthy rise in margins, which rose to 12.93 per cent from 10.58 per cent a year ago, on higher per unit reaslisaiton, the company said.
Its volume, primarily pipes and fittings, rose 28.1 per cent to 92,181 tonnes from 71,960 tonnes a year ago, the Pune-based company said in a statement.
But volume in PVC resin segment was down 26.57 per cent to 46,074 tonnes from 62,746 tonnes.
Prakash P Chhabria, executive chairman, said the overall economic recovery has led to a strong demand which in turn has been driving volume growth in pipes and fittings segment. 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 19 2023 | 11:57 PM IST

Explore News