Finolex Industries Limited Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
January 25, 2014 at 09:04 am
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Finolex Industries Limited announced unaudited earnings results for the third quarter and nine months ended December 31, 2013. For the quarter, the company reported total income from operations of INR 6,598.359 million compared to INR 6,199.138 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 1,011.135 million compared to INR 818.048 million a year ago. Profit from ordinary activities before tax was INR 919.848 million compared to INR 421.258 million a year ago. Net profit for the period was INR 638.897 million compared to INR 306.090 million a year ago. Basic and diluted earnings per share before and after extraordinary items was INR 5.15 compared to INR 2.47 a year ago.
For the nine months, the company reported total income from operations of INR 16,132.898 million compared to INR 15,284.426 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 2,468.595 million compared to INR 2,207.629 million a year ago. Profit from ordinary activities before tax was INR 1,528.682 million compared to INR 795.273 million a year ago. Net profit for the period was INR 1,139.943 million compared to INR 567.905 million a year ago. Basic and diluted earnings per share before and after extraordinary items was INR 9.18 compared to INR 4.58 a year ago.
Finolex Industries Limited is an India-based backward-integrated manufacturer of polyvinyl chloride (PVC) pipes and fittings. The Company is engaged in manufacturing of micro irrigation systems, fittings, accessories and a range of irrigation components. The Company operates through two segments: PVC and PVC pipes and fittings. It offers a wide range of products in various sizes, pressure classes and diameters suitable for diversified applications across the two main categories: plumbing sanitation and agriculture products. Its plumbing pipes and fittings products include American Society for Testing and Materials (ASTM) pipes and fittings; chlorinated polyvinyl chloride (CPVC) pipes and fittings; soil, waste and rainwater pipe (SWR) pipes and fittings; sewerage pipes, and solvent cement, lubricant and primer. The Company's agriculture pipes and fittings products include agriculture pipes and fittings, casing pipes, column pipes, and solvent cement and lubricant.