Astral Poly Technik's net up by 72% in Q1

Astral Poly Technik, one of India's leading manufacturers of CPVC plumbing systems, has reported a strong 72% year on year (yoy) growth in standalone net profit at Rs 20.45 crore for the quarter ended June 30, 2014 (Q1), on back of higher sales. The plastic products maker had profit of Rs 11.89 crore in the same quarter last year.
 
The company’s net sales during the quarter under review grew by 25% to Rs 271 crore on yoy basis. Operating profit margins improved by almost 200 basis points to 14.4% from 12.5%.
 
Meanwhile, the company said its board has considered the proposal for raising long term funds.