Sintex Industries Ltd., manufacturers of plastic goods and textiles, reported higher net profit, both on consolidated and stand-alone basis, for the second-quarter, on lower exchange loss and appreciation in rupee.
Consolidated Results
The Gujarat-based company posted a second-quarter consolidated net profit of Rs.72.35 crore or Rs.2.67 per share, 86 percent higher than Rs.38.80 crore or Re.1.43 per share reported in the second-quarter of 2012.
Profit for the quarter included a one-time charge of Rs.4.86 crore, compared with Rs.59.61 crore in the year-ago quarter, towards net foreign exchange loss on long-term foreign currency monetary items.
Quarterly net income grew by three percent to Rs.1,186.08 crore from Rs.1,153.57 crore in the year-ago quarter, while other operating income totaled Rs.12.45 crore, compared with Rs.3.45 crore for the same period last year.
During the quarter, income from 'Textile' segment rose by three percent to Rs.116.93 crore from the Rs.113.97 crore in the year-ago quarter, while that from 'Plastics' increased by four percent to Rs.1,081.59 crore from the Rs.1,043.05 crore in the second-quarter of 2012. Income from 'Unallocated' segment was Rs.6.42 crore, compared with Rs.6.67 crore in the previous year-quarter.
For the first six months, the company's consolidated net profit was Rs.119.15 crore, compared with Rs.133.37 crore in the corresponding period of the previous year, registering a 11 percent decline. Total income, including other operating income, was Rs.2,279.09 crore, flat from last year's Rs.2,269.02 crore.
Stand-alone Results
The company's second-quarter stand-alone net profit rose more than four-fold to Rs.56.77 crore or Rs.2.09 per share from the Rs.13.44 crore or Re.0.50 per share for the quarter ended September 30, 2011. Total income, including other operating income, totaled Rs.689.26 crore, compared with Rs.624.33 crore for the same period a year-ago, a ten percent growth.
For the first six months of this fiscal, the company posted a stand-alone net profit of Rs.89.66 crore, higher by nine percent than the Rs.82.57 crore for the first six months in the preceding year. Total income, including other operating income, increased by ten percent to Rs.1,296.59 crore from the Rs.1,180.63 crore for the comparable period last year.
The company's Board has decided to issue up to three crore warrants of Re.1 each on preferential basis to promoters.
Managing Director Amit Patel said, "It has been a quarter of crucial importance. We have had a good run rate across the businesses, especially pre-fabricated systems having done exceptionally well. Our consolidated numbers are looking better over the last couple of quarter. We have grown top line over ten percent sequentially and the visibility has improved across businesses. I strongly believe we will bounce back in the near future."
He added, "Today we are in a better position to improve the return ratios, ensure better working capital management and shrink the overall size of our balance sheet in the next couple of years."
At the BSE, Sintex closed Thursday's trading at Rs.74.05, up by Rs.3.70 or 5.26 percent on a volume of 25,75,000 shares.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.