MUMBAI (Commodity Online): Flexituff International Ltd, a leading manufacturer of Flexible Intermediate Bulk Containers (FIBC)has announced on Thursday that its results for the quarter and nine-month period ended December 31, 2011.
The company’s net sales grew by 28% to Rs 148.20 crore for the third quarter ended December 31, 2011 as compared to Rs 115.66 crore of the corresponding quarter a year ago.
The company clocked a net profit of Rs 8.13 crore during the quarter ended December 2011 as compared to Rs 8.63 crore of the same quarter last year. For the nine-month period ended December 31, 2011 the company’s Net Sales rose to Rs 421.74 crore, up by 22.43% as compared to Rs 344.45 crore of the corresponding period a year ago.
Net profit for the nine-month period ended December 2011 stood at Rs 26.85 crore, up by 26.89% as compared to Rs 21.16 crore of same period a year earlier.
EBITDA margin for 9M FY12 stood at 18.92% at Rs. 79.82 crore as compared to Rs 51.16 crore of the corresponding period a year ago.
The company’s Board of Directors, which met on Thursday, considered and approved the appointment of Mr. Kaushal Ganeriwal, in place of Mr. Aswini Sahoo as an additional director on Board due to change in nomination by Clearwater Capital Partners (Cyprus) Ltd.
