Piramal Glass revenue rises in 3Q 2012–13
View(s):Piramal Glass Ceylon PLC (PGC) has reported a revenue growth of 10 per cent to Rs. 1,502 million for the quarter ended 31st December 2012 from Rs. 1,369 million in the same FY12 period.
The 9-month figures showed turnover at Rs. 4,095 million as against Rs. 3,760 million of the previous year.
“Though we saw an impressive sales growth, there is a dip in Gross Profit from 30 per cent to 28 per cent when comparing the nine months under review as against the similar period of the previous year, due to increasing cost of production mainly consisting of high energy prices and increase in interest rates,” said CEO/Managing Director, Piramal Glass Ceylon, Sanjay Tiwari, in a statement to the media.
The growth in sales was contributed by the export market, which grew at 33 per cent during the quarter and closing with a YTD growth of 11 per cent. The export sales grew from Rs.945 million to Rs.1,049 million from FY12 to FY13. These numbers were achieved mainly due to the dominance the company displayed in the speciality bottle market which yields high premiums, the statement said.
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