AGI Greenpac shares soared 8.71% to Rs 332.05 after the packaging company’s net profit soared 80.7% to Rs 53.23 crore in the October-December quarter of FY23, compared with net profit in the October-December quarter of FY2022 at Rs 29.45 crore.
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Revenue from operations stood at Rs 567 crore in the October-December quarter of FY23, registering a YoY growth of 43%. Sales and profitability improved year-on-year due to a better product mix and growing demand from non-alcoholic beverages, packaged food and beer segments for glass container products.
Profit Before tax (PBT) jumped 48.84% YoY to Rs 69.27 crore in the Oct-Dec quarter of FY23 from Rs 46.54 crore in the Oct-Dec quarter of FY22.
During the third quarter, operating EBITDA grew 39% YoY to Rs 113 crore, while the EBITDA margin stood at 20%. The company said it maintained a substantial EBITDA margin despite a sharp rise in input prices and rising inflation.
The company manufactures and markets various packaging products, including glass containers, products & security caps, Polyethylene Terephthalate (PET) bottles and closures.
