Manjushree Q1 net zooms 104%

Bangalore, Aug 4 (UNI) Bangalore-based plastic packaging major Manjushree Extrusions Ltd has registered a 53 per cent growth in the first Quarter ending June 30 with a turnover of Rs 2,768 lakh compared to Rs 1,812 lakh in the corresponding quarter in 2007.

Profit before interest, depreciation and taxes was higher by 73 per cent at Rs 433 lakh (Rs 250 lakh).

After providing for financial charges and amortization, the profit before tax of the company grew to Rs 278 lakh (Rs 135 lakh) recording an increase of 105 per cent.

The net profit after tax increased by 104 per cent to Rs 182 lakh (Rs 89 lakh). The fully diluted EPS stood at Rs 1.34, post recent rights cum public issue of the company.

Manjushree Extrusions Ltd Managing Director Vimal Kedia said ''backed by strong Q1 results, the company expects to have a track record of robust earnings during the current financial year and a leading domestic market share besides ensuring its thrust on the export markets.'' UNI MSP GM 1324