Essel Propack net profit rises by 7% to Rs 38 crore

Essel Propack - a global tube packaging company, reported a 6.63% net profit for the June quarter ended 2016 (Q1FY17). 

The company registered net profit of Rs 37.62 crore in Q1FY17 versus Rs 35.28 crore in the corresponding period of the previous year. 

While total income from operations was at Rs 528.03 crore, up by 3.52% from Rs 510.06 crore in June 2015. This performance was sluggish led by weak goegraphical performances. 

On geographic wise revenue break-up, its AMESA business (Africa, Middle East and South Asia, including India) saw a 16% year-on-year (yoy) decline to Rs 221.04 crore during this period. Followed by Europe business also declining by 8% yoy to Rs 111.47 crore and America business at Rs 128.75 crore, down by 4% yoy. 

It's consolidated operating profit (EBITDA) remained muted at Rs 97.63 crore from the same period previous year. Also operating profit margin was at 18.48%, contracting by 65 basis points. 

On standalone front, the company's net profit of Rs 19.41 crore, increased by 23.31% yoy and total income stood at Rs 187.6 crore, up by 4.10% yoy.