At Rs 567 crore, Essel’s revenues up by 5.7% in Q3 FY15

The consolidated revenue for the global operations during the quarter were up 5.7% at Rs 567.4 crore, as against Rs 536.8 crore in the corresponding quarter of the previous year. EBIDTA for the quarter stood at Rs 92 crore up 2.2% compared to Rs. 89.9 crore in the year-ago quarter.

For the nine months period ended December 31, 2014, the company’s consolidated revenue rose 10.9% to Rs 1,711.2 crore whereas the consolidated net profit was up at Rs 95.2 crore as compared to Rs 80.5 crore in nine months of FY14, an increase of 18.3%. EBIDTA for nine months of FY15 rose 8.2% to Rs 287.5 crore compared to Rs 265.7 crore in the same period last fiscal.

“Our strategy for growing the non-oral care business is on track and has shown positive results.  During the quarter under review, our non-oral care business grew by 15.2% over last year. However, the revenue was impacted by unusually lower off take in the oral care category during Q3FY15. In fact, year to date revenue grew by 10.9% and PAT by 18.3%,” said Ashok Goel, vice-chairman and managing director, Essel Propack.

Goel added that in the quarter ended December 31, 2014, Americas and Europe revenue posted a robust growth with improved operating margin. Also, EAP non-oral care thrust was on plan, recording revenue growth of 41.9% during the quarter, albeit on a lower base.

Essel Propack, part of the $2.4 billion Essel Group, with turnover of over $350 million, is the largest specialty packaging global company, manufacturing laminated plastic tubes catering to the FMCG and Pharma space. Employing over 2,600 people representing 25 different nationalities, Essel Propack functions through 25 state of the art facilities in eleven countries, selling more than six billion tubes and continuing to grow every year.