Piramal Glass Ceylon turnover crosses Rs. 5 bln in 9-mth period
View(s):Piramal Glass Ceylon’s turnover for nine months ending December 2016 crossed the Rs. 5 billion mark.
Total turnover rose six showed a growth of 6 per cent to Rs. 5,108 million for the period under review. This was helped by a 7 per cent growth in domestic sales to Rs. 4,149 million and 3 per cent increase in export sales to Rs. 959 million. During the year the company’s export portfolio has showed a marked increase in its sales to the US, a company media release said.
However post-tax profit fell to Rs. 352 million from Rs. 576 million in the similar period in the previous year due to many reasons.
They include long term loan interest costs; the plant being inoperative for two months; and a continuous upward trend of LPG prices which impacted on the cost of production.
The sales growth for the last quarter was mainly contributed by the domestic market. The positive trends that were experienced throughout the year remained during this festive season as well.
The company has been lobbying with regulatory authorities to bring down the energy prices specifically Furnace Oil, in line with world crude oil prices and also to introduce formula pricing as in case of LPG.