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Finolex Industries reports PAT of ~ Rs. 178 Crfor Q3FY22

9MFY22 Net Revenue is up ~ 38% at Rs. 3,053.92 Crand EBITDA increases ~ 30% to Rs. 753.41 Cr 

Pune, 25January 2022:Finolex Industries Limited (NSE:FINPIPE|BSE:500940)at its Board Meeting held today announced unaudited financial results for the thirdquarter ended December31, 2021.

Q3 FY22 Highlights:

• Total income from operations was Rs 1,005.25 Cr for Q3FY22 – down 5.7% against Rs 1,066.06 Cr in Q3FY21.
• Volume in Pipes & Fittings segment was down 15.0% to 46,994 MT in Q3FY22 against 55,299 MT in Q3FY21
• EBITDA stood at Rs 241.89 Cr for Q3FY22 – down 30.1% against Rs 346.26 Cr for Q3FY21.
• Profit after tax was at Rs 177.77 Cr for Q3FY22 – down 30.5% against Rs 255.86 Cr for Q3FY21.

Q3 FY22 Highlights:

• Total income from operations was Rs 1,005.25 Cr for Q3FY22 – down 5.7% against Rs 1,066.06 Cr in Q3FY21.
• Volume in Pipes & Fittings segment was down 15.0% to 46,994 MT in Q3FY22 against 55,299 MT in Q3FY21
• EBITDA stood at Rs 241.89 Cr for Q3FY22 – down 30.1% against Rs 346.26 Cr for Q3FY21.
• Profit after tax was at Rs 177.77 Cr for Q3FY22 – down 30.5% against Rs 255.86 Cr for Q3FY21.

Commenting on this commendable feat, Mr. Prakash P. Chhabria, Executive Chairman, Finolex Industries Limited said, “After a long upward trajectory, the global PVC prices have started to cool down and slightly flatten. Coupled to this, the quarter witnessed demand slowdown of PVC pipes due to weather disruptions.  The demand is expected to improve with the season opening up and easing of supply chain bottlenecks.”

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