Finolex Industries Q2 profit up 90 pc at Rs 233 cr

Finolex Industries on Saturday reported 89.9 per cent rise in consolidated net profit at Rs 233.25 crore for the second quarter ended September 30, 2021.

The company had posted a net profit of Rs 122.83 crore for July-September period last financial year, Finolex Industries said in a regulatory filing.

See Zee Business Live TV Streaming Below:

Total revenue from operations was higher at Rs 1,082.95 crore during the quarter under review. It was at Rs 585.55 crore in the year-ago period.

The company has highest ever Q2 and H1(April-September) results and reported a significant improvement in operational performance, it said in a post result investors presentation.

Total expenses were at Rs 802.51 crore as against Rs 460.89 crore.

Revenue from PVC segment was at Rs 654.34 crore as against Rs 367.83 crore.

PVC Pipes & Fittings segment revenue was at Rs 899.63 crore as compared with Rs 500.83 crore in the year-ago period.

The company has demonstrated excellent growth on all operating parameters. Double-digit percentage improvement in terms of the volumes indicates the resilience of the business.

Moreover, the gradual shift in sales mix in favour of higher value-added Plumbing and Sanitation product basket is in line with our long-term goal to have a more balanced product mix between the segments that we cater, Finolex Industries Executive Chairman Prakash P Chhabria said.