The company has reported solid results for the December 2012 quarter while signing a new long-term contract in Poland worth 15 million euros
Essel Propack, a specialised packaging company promoted by the Essel Group, has reported nearly 8% year on year increase in consolidated sales to Rs 447.93 crore, for the quarter ended December 2012, when compared to Rs414.76 crore for the same period last year.
Its net profit was at Rs22.27 crore for the three months ended December 2012, up nearly 70% when compared to the Rs13.71 crore it recorded in the corresponding period last year.
Essel Propack’s subsidiary in Poland has been awarded a long-term contract by a leading multinational FMCG player for supply of tubes in Europe. Upon fully ramping up, this contract will contribute annually around 15 million euros in revenue. The faith of this leading FMCG player has reaffirmed the capability and leadership of the company in the European tube market.
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