Time Technoplast reports 70% jump in Q109 net profits

Time Technoplast Ltd. has reported a 70% jump in its net profit for Q1-09 to Rs. 19.52 crore as against Rs 11.49 crore posted in Q1-08. Net sales for Q1-09 rose to Rs. 188.82 crore as against Rs 106.59 crore in Q1-08 registering a growth of 77%. Operating margin during the quarter stood at 20.80% as against 20.29% recorded in Q1-08. The existing businesses are estimated to clock a 30% growth in the current year, with gross sales crossing Rs. 1000 crore, and profit estimated to surpass Rs 100 crore. The company expects sharp declines feedstock costs by end of the calendar year irrespective of the movement of crude oil prices. Few of the large new capacities planned by the company are expected to come on stream in the beginning of January 2009. This will coincide with the start of the petrochemical low price cycle and last for 3-4 years, resulting in maximum benefit for the company.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha