IG Petro net profit up by 233%

IG petrochemicals Limited (IGPL), World’s third largest producer of Phthalic Anhydride (PAN), announced its unaudited financial results for the quarter ended 30^th September 2006.

Highlights:

1. Turnover of Rs. 176.62 crores as compared to Rs. 74.54 crores during the corresponding period, up by 133%.

2. Net profit of Rs. 9.21 crores as compared to Rs. 2.8 crores during the corresponding period, up by 233%.

3. The EPS is Rs. 5.55 per share as on 30^th September 2006.

4. Net profit of Rs. 14.60 crores and turnover of Rs. 298.5 crores for the half-year ended 30^th September 2006 as compared to loss of Rs. 18.45 crores and Rs. 160.92 crores respectively during the corresponding period.

Commenting on the quarter’s performance, Managing Director of IG Petrochemicals, Nikunj Dhanuka said: “ Post our financial and operational restructuring, IG Petrochemicals has had a dynamic quarter with a continuous focus on profitable growth. The commendable performance by the company was mainly because of robust market & efficient operations.”

Sourced From: Hanmer & Partners Communications Pvt. Ltd