Indian glass packager AGI Greenpac reported a 66% increase in revenue in its latest financial report, driven by improved efficiencies it said.
In its financial results for the second quarter ending September 30, 2022, revenue from Operations stood at ₹513 crore, registering a growth of 66% on Y-o-Y basis.
Operating EBITDA stood at ₹87 crore, registering a growth of 17% on Y-o-Y basis with margins of 17%
Net profit stood at ₹34 crore, registering a growth of 9% with margins of 7%
It said it continued to maintain strong EBITDA margins despite a sharp increase in input prices, rising inflation and an increase in global interest rates.
Mr. Sandip Somany, Vice Chairman and Managing Director, said: “AGI Greenpac continues to deliver strong performance despite rising inflation, energy cost and currency fluctuations owing to our agile business model, improved operational efficiencies and strong connect with our customers.”
“Despite a challenging macro-economic scenario, we expect the growth in demand for our packaging products to continue.
“Going forward, we will continue to focus on improving product mix, manufacture high-end and value-added products with high margins.
"We remain confident in our ability to consistently deliver while growing sustainably across products and business segments.”