India’s Finolex op profit posts 6% up on sales surge

21 January 2008 10:52  [Source: ICIS news]

MUMBAI (ICIS news)--India’s Finolex Industries posted a 6% year-on-year rise in its operating profit for the third quarter ended 31 December on Monday to Indian rupees (Rs) 506m ($13m) on a 62.6% surge in net sales to Rs4.8bn.

The polyvinyl chloride (PVC) producer's net profit dropped 5.7% to Rs215m mainly on account of other income falling 72% to Rs53.2m.

Quarter on quarter, the firm's operating profits fell 11.7%, while its net sales rose 46.8% and net profit was 9.7% lower.

Finolex Industries' stock closed nearly 16.7% down at Rs82.80 on the Bombay Stock Exchange.

($1 = Rs39.20)

By: Aaron Rodrigues
+65 6780 4359

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