Prakash Pipes Reports Quarterly And Nine Month Results
The PVC Pipes and Fittings Division recorded sales volume of 11,068 tonne (t) in the quarter compared with 10,547 t in the corresponding quarter of the last financial year. The company reported that PVC pipe business growth is returning to normal as the continuous downward trend in PVC resin prices has been arrested. Management indicated that a good monsoon and favourable economic conditions supporting housing, agriculture and infrastructure are expected to support stronger demand in the ensuing quarters.
The Flexible Packaging Division reported sales volume of 4,329 t for the quarter against 4,015 t in the corresponding quarter of the last financial year. The division is driving growth by increasing its product range, expanding capacities and offering customised solutions to customers. These strategic steps are expected to support volume growth and improved market penetration.
The company cautioned that the release contains forward-looking statements and that actual results may differ materially owing to risks, uncertainties and other factors. Recipients were cautioned not to place undue reliance on forward-looking statements and the company will continue to monitor market conditions. The results reflect operational recovery in key divisions and the company expects to pursue opportunities arising from improving market dynamics.