Finolex Industries reports mixed numbers in Q3FY18
Finolex Industries reported its results for the quarter ended December 31, 2017 on Monday.
The company's standalone revenue for the quarter came in at Rs. 722.72 crore, registering an increase of 9.1 per cent YoY. This was primarily driven by rise in revenue from PVC pipes and fittings segment by 19.7 per cent YoY.
Its EBITDA for the quarter fell by 12.6 per cent YoY to Rs. 113.33 crore, with a corresponding margin contraction of 390 bps. The EBITDA margin for the quarter stood at 15.7 per cent. This margin contraction was led by unfavourable movements in inventories.
The PAT for the quarter came in at Rs 69.55 crore, a decline of 3.3 per cent YoY.
The sales volume for PVC pipes and fittings was at 61,514 MT in Q3FY18, up by 50.2 per cent, as against 40,966 MT in Q3FY17.
Finolex Industries Limited is the leading supplier of PVC pipes and fittings for the agriculture and non-agricultural sectors.
On Monday, the stock opened at Rs 686 and touched an intra-day high and low of Rs. 709.90 and Rs. 686, respectively and finally closed at Rs. 695 on the BSE.