Finolex Q4 net up 41.2 per cent at Rs 79.35 crore
PVC pipes and fittings Finolex Industries today reported 41.2 %t growth in net profit of at Rs 79.35 cr for Q4 ended March 31, 2013.
By PTI |
MUMBAI: Leading manufacturer of PVC pipes and fittings Finolex Industries (FIL) today reported 41.2 per cent growth in net profit of at Rs 79.35 crore for the fourth quarter ended March 31, 2013.
FIL's net profit stood at Rs 56.19 crore in the year-ago period, the company said in a release.
The sales for the quarter under review grew marginally by six per cent at Rs 629.59 crore compared to Rs 593.01 crore in the same period of previous fiscal.
"We have achieved an all round improvement in performance during the year. Both top-line and bottom-line have shown positive growth," FIL Managing Director Saurabh S Dhanorkar said.
"The government has declared an increase in the allocation for rural water management and irrigation in the 12th Five Year plan. This is expected to generate a substantial demand for PVC pipes and fittings and consequently for PVC resin.
"With our leadership position in the industry and pan-India distribution network we are well poised to meet the surge in demand," he said.
The net profit for the year 2012-13 grew by 81.15 per cent to Rs 136.14 crore compared to Rs 75.15 crore in FY'12.
The board of directors has recommended a dividend of 55 per cent for FY13.
FIL's net profit stood at Rs 56.19 crore in the year-ago period, the company said in a release.
The sales for the quarter under review grew marginally by six per cent at Rs 629.59 crore compared to Rs 593.01 crore in the same period of previous fiscal.
"We have achieved an all round improvement in performance during the year. Both top-line and bottom-line have shown positive growth," FIL Managing Director Saurabh S Dhanorkar said.
"The government has declared an increase in the allocation for rural water management and irrigation in the 12th Five Year plan. This is expected to generate a substantial demand for PVC pipes and fittings and consequently for PVC resin.
"With our leadership position in the industry and pan-India distribution network we are well poised to meet the surge in demand," he said.
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The net profit for the year 2012-13 grew by 81.15 per cent to Rs 136.14 crore compared to Rs 75.15 crore in FY'12.
The board of directors has recommended a dividend of 55 per cent for FY13.
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