AIS (Asahi India Glass Ltd.) Announces Unaudited Financial Results For The Third Quarter And The Nine Months Ended 31st December, 2007

Date: 23 January 2008
Source: Asahi India Glass Ltd
Gross sales and operating profit for the nine months period amounted Rs. 87188 lakhs  and Rs. 17271 lakhs respectively.

Gross sales and operating profit for the quarter  recorded Rs. 30433 lakhs and Rs. 4501 lakhs.

AIS (Asahi India Glass Ltd.), India’s largest integrated  glass company announced its unaudited financial results for the third quarter and the  nine months ended 31st December, 2007 at its Board Meeting held today.  AIS’s gross sales and operating profit for the nine months amounted Rs. 87188 lakhs and  Rs. 17271 lakhs, recording an increase of 38 per cent and 51 per cent respectively as  compared to the same period in the previous year. Gross sales and operating profit for  the third quarter at Rs. 30433 lakhs and 4501 lakhs was up by 38 per cent and 5 per cent  respectively over the corresponding quarter of the previous year. Profit before tax for  the period was lower on account of full impact of depreciation and interest, resulting  from capitalization of the expansion projects, which became operational during the  period.

Speaking on the occasion, Mr. Sanjay Labroo, M.D. & C.E.O., AIS said, “The pincer of  rising costs for key inputs like power and fuel, soda ash, packing material, etc. and  stagnant finished good prices continued to have adverse impact on profitability. We are  addressing the situation by targeting value-added products like reflective glass, mirror,  processed glass and glass products and capturing margins in the glass value chain. This  should mitigate the adverse impact and result in a better performance.”

The financial performance is summarized here.

600450 AIS (Asahi India Glass Ltd.) Announces Unaudited Financial Results For The Third Quarter And The Nine Months Ended 31st December, 2007 glassonweb.com

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