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Our Bureau

Ahmedabad, July 14 Plastics major Sintex Industries Ltd has seen its net profit increase 7 per cent in the first quarter of the fiscal 2009-10, ended June 30, compared to the same period last financial year, although its revenues fell 9 per cent due to passing of lower commodity prices.

The company had a lower top-line of Rs 66.2 crore (Rs 72.86 crore) but its PAT increased to Rs 60.6 crore (Rs 56.50 crore) during the period under review, the company said here while announcing un-audited financial results.

The company, whose shares closed 1.59 per cent lower at Rs 185.45 on Tuesday at the BSE, now has an order of book of Rs 1,600 crore, including fresh orders worth Rs 190 crore for rural housing.

The standalone sales of Sintex were Rs 354.09 crore (Rs 410.75 crore). Sales of subsidiary Zeppelin Mobile Systems India Ltd increased to Rs 28.67 crore (Rs 13.80 crore).

However, its foreign subsidiaries’ performance was not as good. Revenues of its US-based company Wausukee Composites decreased to $7.8 million ($10.9 million), whereas those of France-based Nief Plastics SAS came down to €29.1 million (€32.6 million).

More Stories on : Plastics

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