Captain Polyplast posts highest-ever quarterly revenue

Captain Polyplast has announced results for the December quarter and nine months ended December 31, 2022. The micro irrigation industry player has reported the highest quarterly revenue in its history, coming in at Rs 74.5 crore in Q3FY23. The company's net profit for the quarter grew 6.6x to Rs 2.5 crore, it said in an exchange filing.

The strong growth in topline was a result of the increase in demand for micro irrigation systems, the company said.

With the positive developments for the industry, the company aims to report healthy revenue and profit growth in the upcoming quarters, the company said in a statement.

The company aims to report healthy revenue and profit growth in the upcoming quarters, it added.

Ramesh Kichadia, MD, Captain Polyplast, said that the management remains committed to strategy of growth and innovation and "look forward to continued success in the future".

The micro irrigation industry is expected to benefit from budget allocations from various centrally sponsored schemes and state governments' initiatives.

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