Essel Propack registers record growth in Q1

Mumbai, Apr 19 (UNI) Essel Propack, promoted by Essel Group and one of the leading manufacturers of plastic tubes, medical devices and speciaity packaging materials, today registered a growth of 33 per cent in its consolidated revenues in the first quarter ended March 31 as compared to the corresponding period last year.

The net sales during the quarter under consideration touched Rs 2,82.5 crore with a PAT of Rs 19.5 crore.

Announcing the results here, Essel Propack vice chairman and managing director Ashok Goel said ''The contribution from overseas operations is steadily increasing. On the other hand, the composition of revenues is changing with the two new revenue streams namely medical devices and specialty packaging materials contributing increasingly to the revenues.'' The international operations of the company have contributed 75 per cent of the consolidated revenue (up from 70 per cent in Q1 last year), thus reflecting the trend of increasing overseas growth and consolidation.

The company is focusing on moving up the value chain by effective utilisation of its core competence and knowledge of polymers and polymer processing, Mr Goel added.

UNI