Sintex Industries Q2 PAT up 86%

Sintex Industries Q2 PAT up 86%


Mumbai: Plastics product maker Sintex Industries today announced a profit after tax of Rs83.80 crore for the second quarter ended 30 September, a 86.22% growth over the corresponding period a year ago.

The company had a net profit of Rs45 crore in the September quarter of FY’08, Sintex Industries said in a filing to the Bombay Stock Exchange.

The consolidated net income from operations rose 85% to Rs719.80 crore for the quarter under review, from Rs389.30 crore in the same quarter last fiscal.

For the half-year ended 30 September, the company reported a PAT of Rs140.60 crore, a growth of 78%.

Further, the company said that its building material business is witnessing growth, driven by better capacity utilisation.

“We have been able to deliver a strong growth in the quarter on the back of a global turmoil and gradual slowdown in domestic markets," Sintex Industries Managing Director Amit Patel said.

Shares of the company were trading at 194.50, down 14.37 per cent on the BSE.