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Sintex Textile segment revenues improve 11%
16
Jan '08
Sintex Industries, an entity with leadership positions in the plastic and textiles business segments, announced its unaudited financial results for the quarter and nine months ended 31st December 2007.

The Company's net sales for the quarter under review amounted to Rs 6,129 million and Rs 13,458 million for the 9 months ended December 31, 2007, a 115% and 72% improvement respectively over the corresponding periods last year.

Net profit after tax also improved by 126% and 72% in the quarter and nine months under review. Commenting on the Company's financial performance for Q3 and 9M FY08, Mr. Amit Patel, Managing Director, Sintex Industries, said: “I am happy to announce yet another quarter of a robust top and bottomline growth.

Both our businesses continue to perform strongly and our aggressive scaling up of capacities is now showing results.

An increased emphasis on low cost housing is resulting in significantly higher demand enjoyed by our monolithic constructions business whose order book now stands at Rs 17 billion.

During the quarter, Sintex also expanded its global footprint with the acquisition of Nief Plastic, France and through the acquisition of Nero Plastics Inc, USA, by our subsidiary Wausaukee Composites Inc.

We have consciously aligned our businesses to the high potential segments of infrastructure, power, telecom, construction and mass housing.

I remain confident of our Company's ability to continue to enhance value for all its stakeholders and drive profitable growth going forward.”

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