Essel Propack records marginal growth in third quarter; profit rises by 2.49%

By 05 Feb 2018

Mumbai-based Essel Propack has reported consolidated revenues of Rs 595-crore in the third quarter of FY18, rising by 1.8% year-on-year.

image

The company also saw a marginal increase in net profit at 2.49% to Rs 40.75-crore in the quarter ended December 2017 as against Rs 39.76-crore during the previous quarter ended December 2016, which is said to be short of the expected growth.

“The quarter has been disappointing in terms of topline growth. While EAP, AMESA seem to indicate a recovery as regards growth, Europe and Americas need to step up. Colombia recovery measures and new customer acquisition in the US is expected to help realise this. Europe has been a bigger disappointment for the year and corrective measures are underway to address the challenges in Europe. Even while addressing the topline growth, we are doing everything to sustain the business health in terms of cost, efficiencies and margins. Additionally, we are actively promoting new innovations like GML and Mystik with a view to buffering the topline for future,” said Ashok Goel, vice chairman and managing director of Essel Propack.

The company which is part of the USD 4.2 billion Essel Group, with FY17 turnover of over USD 368 million, is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and pharma space- holding the oral care market share of 36% in volume terms globally.


Events

Feb
21
Mar
25
Apr
12

Media Expo NEW!

Feb 21 - 23 Feb 2019
Bombay Exhibition Centre, Mumb...

Asia Coat + Ink Show NEW!

Mar 25 - 28 Mar 2019
Bombay Exhibition Centre, Mumb...

Sivakasi Printex 2019 NEW!

Apr 12 - 14 Apr 2019
Sivakasi, Tamil Nadu

Latest Poll

Book Days was launched during PrintPack 2019. Which initiative you think will boost print the most?