New Delhi, Delhi, India
-- Net Sales/ Income from operations growth of 49% - to Rs. 311.61 crores in the first quarter
-- EBIDTA high by 50.21% to Rs 66.53 crores versus Rs 44.29 cr, year on year
-- PAT up by 80% - Rs 50.12 cr versus 27.87 cr, year on year
-- EPS up by 170%- Rs 4.59 in the 1st quater
Prakash Industries Ltd, a diversified business house with interests in steel, power and pvc pipe today announced its financial results for first quarter ended June 30, 2007.
During the quarter the company showed impressive results. Net sales/ Income from operations has increased by 49%, to Rs. 311.61 crores as against 208.68 crores reported in the corresponding period last year. EBIDTA increased by 50.21%, stood at 66.53 crs in the first quarter of the current year as against 44.29 crs in the corresponding period. PAT is up by 80%, at 50.12 crs as against 27.87 crs in the corresponding period. Earning per share (EPS) up by 170% - Rs 4.59 in the first quarter as compared to Rs 1.70.
Mr. V. P. Agarwal, Chairman and MD, Prakash Industries Ltd. said:
"The first quarter has been very satisfying for us where all our verticals performed well. Steel was the main growth driver on the back of strong demand and has contributed as much as 91 % to the revenues of the company. Power is another thrust area which has registered a growth of 50 % in revenues. Pls mention any capital expenditure /expansion underway.
About Prakash Industries Ltd:
Prakash Industries Ltd is a diversified business house based in New Delhi The Rs 1200(approx) cr company has interests in Steel, Power and PVC Pipes. The integrated steel plant of the company is located in Chattisgarh with state of the art technology and manufactures a wide array of products catering to the automobile, construction and FMCG industry. The power generation business of the company uses waste hot gases from the rotary kilns of the steel plant and is the first in the country to use this eco friendly concept. The company has also forayed into wind energy with an installed base of 6MW . The PVC pipes business of the company has an installed base of 15000 MTPA with a major market share and a robust distribution network. The company is also involved in a lot of CRS activities in keeping with its commitment towards being a responsible corporate citizen.
Source: Prakash Industries Ltd (Business Wire India)
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