Piramal Glass Ceylon has seen its year-end 31st March 2013 turnover rise to Rs. 5.5 billion while post-tax profit was the highest on record at Rs.724 million.
Revenue achieved for the year was at Rs. 5.5 billion against Rs.5.2 billion in the previous year. The main contributor towards the revenue growth was the export market with a year on year growth of 12%.
CEO Piramal Glass, Sanjay Tiwari said that their profitability was sustained mainly due to their export product portfolio. The market reach established in the Australian and New Zealand markets last year also paid dividends during the year under review.
The company has also launched several new products in different shapes and colours in the domestic and international markets.
Mr Tiwari said the electricity price hike will have a substantial impact on the company’s energy bill.