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Stock Report
Prakash Pipes Ltd announces Q3 FY2024 results
Posted On : 2024-02-13 17:44:04( TIMEZONE : IST )
Prakash Pipes Ltd has announced the financial results for the period ended December 31, 2023.
During the quarter, the company achieved Net Sales of Rs. 158 Crores. Operating Profit for the quarter increased to Rs. 30 crores as against Rs. 21 crores in the corresponding quarter of the last financial year registering growth of 43%. Profit after Tax also increased to Rs. 23 Crores as against Rs. 13 Crores in the corresponding quarter of the last financial year registering growth of 72%.
During the nine months ended 31st December, 2023, the Company achieved Net Sales of Rs. 505 Crores. Operating Profit for the period increased to Rs. 77 crores as against Rs. 64 crores in the corresponding period of the last financial year registering growth of 20%. Profit after Tax also increased to Rs. 64 Crores as against Rs. 51 Crores in the corresponding period of the last financial year registering growth of 25%.
PVC Pipes & Fittings Division
During the nine months ended 31st December, 2023, the division achieved sales volume of 31,861 MT registering growth of 10% over the corresponding period of the last financial year on account of robust demand for PVC pipes and fittings.
The division continues to focus on expanding distribution network, adding new products to build portfolio depth and strengthening the brand equity. Further, the growing expansion in infrastructure, housing and irrigation sector shall continue to be the driving force for PVC products in the future also.
Flexible Packaging Division
During the nine months ended 31st December, 2023, the division registered sales volume of 9, 134 MT. The division continues to utilize its capacities optimally and work on newer applications for better profitability. The division has added prestigious customers, both domestic and international and is exploring more export opportunities for higher margins.
Shares of Prakash Pipes Limited was last trading in BSE at Rs. 429.70 as compared to the previous close of Rs. 415.70. The total number of shares traded during the day was 43884 in over 2650 trades.
The stock hit an intraday high of Rs. 437.60 and intraday low of 399.40. The net turnover during the day was Rs. 18663548.00.
