Finolex Industries’ net profit increases by 16.24% in Q1 FY24, ET RealEstate

July 21, 2023

NEW DELHI: Finolex Industries has reported a growth of 16.24 per cent in its net consolidated profit during the quarter ended June 30, 2023. Its profit after tax (PAT) stood at Rs 115.33 crore in Q1 FY24 as against Rs 99.22 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 1,219.43 crore in Q1 FY24, a marginal growth of 0.37 per cent from Rs 1,214.88 crore it recorded in the similar quarter last year.

Prakash P. Chhabria, executive chairman of the company said, “Overall economic recovery in both the rural and the urban segments has led to a strong demand which in turn, is driving volume growth in pipes and fittings segment.”

PVC Pipes & Fittings segment’s volume registered a growth of 28% year-on-year to 92,181 MT while the PVC Resin segment’s volume decreased 27% year-on-year to 46,074 MT.

Revenue from the PVC Pipes & Fittings segment stood at Rs 1,154.21 crore while the revenue from PVC Resin segment was 359.41 crore during the quarter ended June 30, 2023, the company said in the regulatory filing.

  • Published On Jul 20, 2023 at 12:30 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETRealty App

  • Get Realtime updates
  • Save your favourite articles

Scan to download App

Source link

Abhay Singh

Web Developer

Leave a Comment