Finolex Industries Q1 Result: Net profit rises over 10% to Rs 111 crore in June quarter

Finolex Industries Q1 Result: Pipes maker Finolex Industries on Wednesday reported over 10 per cent growth in net profit at Rs 110.88 crore in the June quarter, even though the income declined a notch to Rs 1,179.2 crore from Rs 1,189.8 crore.

The 10.8 per cent spike in bottomline was helped by a healthy rise in margins, which rose to 12.93 per cent from 10.58 per cent a year ago, on higher per unit reaslisaiton, the company said.

Its volume, primarily pipes and fittings, rose 28.1 per cent to 92,181 tonnes from 71,960 tonnes a year ago, the Pune-based company said in a statement.

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But volume in PVC resin segment was down 26.57 per cent to 46,074 tonnes from 62,746 tonnes.

Prakash P Chhabria, executive chairman, said the overall economic recovery has led to a strong demand which in turn has been driving volume growth in pipes and fittings segment.

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