Essel Propack Q3 net profit up 41% to Rs 42.94 crore

Packaging firm Essel Propack on Thursday reported 41.25% increase in its consolidated net profit at Rs 42.94 crore for the third quarter (Q3) ended December 31, 2015. The company had posted a net profit of Rs 30.40 crore in the corresponding period last year, Essel Propack said in a BSE filing.

However, Essel Propack's net sales on a consolidated basis declined 9.06% to Rs 505.60 crore during the quarter under review as against Rs 555.99 crore in October-December period of last fiscal.

On Friday, at 1026 hours, the shares of Essel Propack were trading up 2.88% or Rs 4.15 at Rs 148.25 per scrip intraday on the BSE. 

Shares of the company on Thursday closed 6.77%, up at Rs 142 per scrip on BSE.  

Essel Propack, part of the $2.4 billion (nearly Rs 16,291.2 crore) Essel Group, with a turnover of over $350 million (nearly Rs 2,375.8 crore), is the largest global specialty packaging company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space.