Piramal Glass net profit up 135 pct

The consolidated sales were Rs 311 cr,up 10.2 pct,while EBIDTA was Rs 78.4 cr,up 31.3 pct.

Piramal Glass Limited(PGL),a leading global manufacturer of glass containers today reported its best ever quarter with a massive 135 per cent rise in consolidated net profit at Rs 26.6 crore for the December quarter.

The consolidated sales were Rs 311 crore,up 10.2 per cent,while EBIDTA was Rs 78.4 crore,up 31.3 per cent.

In a press release issued here today,Ajay Piramal,Chairman,Piramal Group said,”It is heartening to see Piramal Glass achieve its best quarter ever. We are witnessing a shift in the global glass packaging ecosystem.

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Emerging economies are expected to drive the global glass industry. Global majors are shifting their packaging to India and PGL is geared up to respond to this,” Piramal said.

Piramal Glass,(erstwhile Gujarat Glass Limited) is a leading global manufacturer of flaconnage (glass containers) for pharmaceuticals,foods and beverages,cosmetics and perfume industries.

The company had revenues of Rs 1,100 crore in FY2010. The company has a global footprint,with manufacturing facilities located in USA,Sri Lanka and India. The company markets its products to more than 54 countries and is also the largest producer of nail-polish bottles globally,with more than 30 per cent market share.

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