Prakash Pipes Reports Quarterly And Nine Month Results
In the PVC Pipes and Fittings division sales volume rose to 11,068 tonnes (11,068 t) in the quarter from 10,547 t in the corresponding quarter of the previous financial year. The company noted that the continuous downward trend in PVC resin prices has been arrested and that business growth is returning to normalcy. Management attributed the outlook to a good monsoon and favourable economic conditions across housing, agriculture and infrastructure which are expected to support demand. The division is positioned to benefit from the anticipated improved market conditions in the ensuing quarters.
The Flexible Packaging division registered a sales volume of 4,329 t in the quarter compared with 4,015 t in the year ago quarter. The division is pursuing growth by broadening its product range, expanding capacities and offering customised solutions to customers. These measures are intended to support margin improvement and enhance market share in targeted segments. The company indicated continued focus on operational efficiencies and customer service.
All figures are stated after required allocations for depreciation, interest and tax and follow applicable reporting norms. The release contains forward looking statements and notes that actual results may differ due to risks, uncertainties and other factors, and readers are cautioned against placing undue reliance on projections. The company continues to monitor market developments and intends to pursue growth while maintaining financial discipline. Further disclosures will be made as required under listing regulations.