Moneycontrol Bureau
Plastic products manufacturer Sintex Industries beat street estimates on every parameter with the second quarter consolidated net profit rising 46.8 percent on yearly basis to Rs 107 crore on strong sales and operational performance. Profit in the year-ago period was Rs 72.9 crore.
According to CNBC-TV18 poll estimates, analysts had expected profit of the company at Rs 89.9 crore on total income of Rs 1,551 crore for the quarter.
Consolidated total income from operations grew by 23 percent to Rs 1,681 crore in the quarter ended September 2014 compared to Rs 1,365 crore in same quarter last year.
Operating profit jumped 35.8 percent year-on-year to Rs 288 crore and margin expanded by 160 basis points to 17.1 percent during the quarter as against expectations of Rs 251 crore and 16.2 percent, respectively.
Plastics business (the major contributor to revenues) has reported a 20 percent growth in revenues at Rs 1,331 crore with earnings before interest and tax (EBIT) rising 330 basis points to 15.1 percent in September quarter.
Textiles business, which contributes 10-12 percent to total revenues, surged 31 percent on yearly basis to Rs 173 crore with EBIT expanding 420 basis points to 16.2 percent in September quarter.
Infrastructure revenues grew 39 percent year-on-year to Rs 172 crore with EBIT falling significantly to 2.4 percent from 7.4 percent on yearly basis.
At 14:31 hours IST, the stock was quoting at Rs 80.50, up Rs 7.90, or 10.88 percent on the BSE.
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