Sat, 22 Jan 2022 Today's Paper

Primal Glass 3Q boosted by production expansions

18 February 2017 12:01 am - 0     - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s sole glass bottle manufacturer Piramal Glass Ceylon PLC posted a net profit of Rs. 202.32 million for the quarter ended December 31, 2016 (3Q17), increasing 21.59 percent year-on-year (YoY) after conducting major production expansions in the previous quarter.
Basic earnings per share increased to Rs. 0.21 from Rs. 0.18 YoY.
Revenue for 3Q17 increased 11.30 percent YoY to Rs. 1.98 billion while cost of sales increased 4.70 percent YoY to Rs. 1.45 billion.
The domestic market grew 12 percent YoY to Rs.1, 563 million whilst the export market grew 8 percent YoY to Rs. 416 million.
Selling and distribution expenses doubled YoY to Rs. 97.85 million, while finance costs increased to Rs. 73.76 million from Rs. 17.54 million YoY due to the loan taken to conduct expansions.
The company asset base at the end of 3Q17 stood at Rs. 9.15 billion, up from Rs. 6.21 billion at the start of the financial year due to investments in increasing production capacity, resulting in net assets per share increasing to Rs. 4.22 from Rs. 4.06.
Long-term interest bearing loans and borrowings increased to Rs. 2.91 billion from Rs. 245.15 million in the same period.
The upgrade and expansion programme pushed Piramal’s net profits for the first 9 months of the current financial down to Rs. 275.12 million a 39.14 percent fall YoY.

Since manufacturing was halted for two months for expansions, low-margin trading was conducted to ensure continuous supply to customers.
Revenue for the 9 months increased 6.02 percent YoY to Rs. 5.11 billion, while cost of sales increased 10.50 percent YoY to Rs. 3.78 billion. 
The upward trend of LPG prices as well as the government’s decision to maintain furnace oil prices above global crude prices weighed on production costs.
Selling and distribution expenses increased 77.88 percent YoY to Rs. 192.27 million. 
India’s Piramal Group subsidiary Piramal Glass Limited owns 56.45 percent of the shares in Piramal Glass Ceylon, while the Employees Provident Fund owns 9.51 percent of the shares.

 

 

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.

  Comments - 0

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

Sell your vehicle & house fast with hitad.lk only cost is Rs.400, Advertise in Hitad.lk for free to sell your mobile phone. Want to sell your Pet, Advertise for Free in hitad.lk Search for Houses in Sri Lanka and find the best place through Hitad.lk find your best tuition place. Find the best partner for you, visit hitad.lk Find anything at any time hitad.lk.


“US has a right to criticise and to be criticised” – Sam Brownback

The United States continues to police other countries on democracy and human

Indo-Lanka Accord, 13th Amendment and the Tamil March of Folly

Much concern is now being shown by political parties representing the minorit

How a Sri Lankan woman’s death shook Japan and pushed towards changes

Japan has long been internationally criticised for its refugee recognition an

Turmoil in Toronto as “Tigers” Target TNA Meeting

Last Saturday (Nov. 20) saw a group of self-styled political activists creat