Finolex Industries Ltd. Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2012
January 19, 2013 at 09:16 am
Share
Finolex Industries Ltd. reported unaudited earnings results for the third quarter and nine months ended December 31, 2012. For the quarter, the company reported net sales of INR 6,133.124 million against INR 5,676.970 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 437.785 million against INR 114.909 million a year ago. Profit from ordinary activities before tax was INR 421.258 million against loss of INR 35.024 million a year ago. Net profit was INR 306.090 million or INR 2.47 per basic and diluted share before and after extraordinary share against net loss of INR 17.624 million or INR 0.00 per basic and diluted share for the same period a year ago.
For the nine months, the company reported net sales of INR 15,132.838 million against INR 15,050.449 million a year ago. Profit from operations before other income, finance costs and exceptional items was INR 936.851 million against INR 650.018 million a year ago. Profit from ordinary activities before tax was INR 795.273 million against INR 239.388 million a year ago. Net profit was INR 567.905 million or INR 4.58 per basic and diluted share before and after extraordinary share against INR 189.611 million or INR 1.53 per basic and diluted share before and after extraordinary share for the same period 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.