Date:31/01/2006 URL: http://www.thehindubusinessline.com/2006/01/31/stories/2006013101881400.htm

Back Finolex Industries net rises 17 pc

Our Bureau

PUNE: Finolex Industries Ltd, manufacturer of PVC pipes and resins,has registered a net profit for the third quarter at Rs 14.67crore compared to Rs 12.55 crore during the same period last year, showing an increase of 17 per cent.

The turnover, however, recorded a decrease of Rs 206.36 crore (Rs 248.48 crore) mainly on account of lower prices of PVC resin in the international market which exerted pressure on domestic prices.

The earnings per share was Rs 1.18 (Rs 1.01) and cash earnings per share was Rs 2.06 (Rs 1.91).

Commenting on the performance, Mr Saurabh Dhanorkar, Director, Finolex Industries, said, "there is a surge in volumes for PVC pipes. The buoyancy in demand for PVC pipes from agriculture and the booming construction industry is expected to go beyond the fourth quarter and the company is already expanding its capacity to meet the additional demand.''