Piramal Glass Ceylon records Rs. 384 m PAT

Piramal Glass Ceylon Plc (PGC), a manufacturer of flaconnage (glass containers) has reported an exceptional performance by reporting a net profit of Rs. 384 million in the first six months of FY 12 as against the profit of Rs. 210 m posted during the corresponding period of the past financial year. This is a growth of 82.6 percent on net profitability.

CEO and Managing Director Piramal Glass Ceylon Plc , Sanjay Tiwari, said "The quarter-ended September 30, 2011, has shown exceptional performance of the company on all fronts. PGC turnover grew by 25 percent from Rs. 1,027 m to Rs. 1,280 m.

Export sales grew by 47 percent during this quarter. Nearly 100 percent of export sales were dominated by premium market products, which brought about high realisations. The overall turnover was also supported by domestic sales growth of 18 percent".

The net profit too increased by 55 percent compared to the same period, last year. Net profit moved up from Rs. 157m in Q2 of FY 11 to Rs. 242m in Q2 FY 12.