Manjushree registers 83 per cent increase in PAT during QI

Bangalore, Aug 1 (UNI) The Bangalore based Plastic Packaging Technology major Manjushree Extrusions Ltd. has registered a seven per cent growth in turnover of Rs 1812 Lakhs for the quarter ended June 30, as against Rs 1687 Lakhs in the corresponding quarter in previous year.

Operating profit before interest, depreciation and taxes was higher by 34 per cent at Rs 245 Lakh as compared to Rs 183 Lakh.

After providing for financial charges of Rs 41 Lakh (Rs 42 Lakh) and amortizations of Rs 74 Lakh (Rs 75 Lakh) the profit before tax of the Company grew to Rs 135 Lakh as against Rs 70 Lakh recording an increase of 94 per cent, a press release said.

Net profit after tax increased by 83 per cent to Rs 89 Lakh as against Rs 49 Lakh and the EPS stood at Rs 2.12 compared to Rs 1.16.

The Board, which met yesterday adopted the unaudited financial results and approved the interim dividend of 10 per cent.

Company Managing Director Vimal Kedia said that " backed by strong First quarter results, the company expects to have a track record of robust earnings during the fiscal year and a leading domestic market share besides ensuring thrust on the export markets." UNI