Net profit of Finolex Industries declined 18.65% to Rs 79.76 crore in the quarter ended June 2017 as against Rs 98.04 crore during the previous quarter ended June 2016. Sales rose 6.10% to Rs 824.27 crore in the quarter ended June 2017 as against Rs 776.91 crore during the previous quarter ended June 2016.

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Finolex Industries will hold a meeting of the Board of Directors of the Company on 11 August 2017, to consider and approve, inter alia, the unaudited financial results for the quarter ended 30th June, 2017. The intimation letter of the Company is attached.

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Finolex Industries announced that the Board of Directors of the Company at its meeting held on 26 May 2017, inter alia, have recommended the final dividend of Rs 11.5 per equity Share (i.e. 115%) , subject to the approval of the shareholders.

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The result was announced after market hours on Friday, 26 May 2017.

Meanwhile, the S&P BSE Sensex was up 109.13 points, or 0.35%, to 31,137.34. The S&P BSE Mid-Cap index was off 29.54 points, or 0.2%, to 14,490.36.

On BSE, so far 9,163 shares were traded in the counter, compared with average daily volume of 28,498 shares in the past one quarter. The stock hit a high of Rs 624 in intraday trade so far, which is 52-week high for the counter. The stock hit a low of Rs 606 so far during the day. The stock hit a 52-week low of Rs 384.95 on 27 May 2016.

The mid-cap company has equity capital of Rs 124.10 crore. Face value per share is Rs 10.

Finolex Industries earnings before interest, taxation, depreciation and amortization (EBITDA) rose 54.4% to Rs 178.50 crore in Q4 March 2017 over Q4 March 2016. EBIDTA margin expanded to 17.56% in Q4 March 2017 from 12.48% in Q4 March 2016.

Finolex Industries said that the company has benefited from lower crude prices which have positively affected the raw material costs and aided better margins. Government initiaties as well as demand from agri and non-agri segments should push up growth in PVC pipe segment, Finolex Industries said.

Finolex Industries is India's leading manufacturer of PVC-U pipes and fittings and the second largest manufacturer of PVC Resin.

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