AGI Greenpac shares soared 8.71% to Rs 332.05 after the packaging company’s net profit soared 80.7% to Rs 53.23 crore in the October-December quarter of FY23, compared with net profit in the October-December quarter of FY2022 at Rs 29.45 crore.

• Defence Ministry Signs Rs 661.5 Cr BrahMos Navy Contract
• Hester Biosciences Approves Rs 1.05 Cr Solar Power Investment
• Mphasis Signs £35.4 Million Deal With Social Security Scotland
• Solex Energy Bags Rs 76 Cr Solar Module Order
• Interarch Climbs 2% on Rs 61 Cr Copper Refinery Order

Revenue from operations stood at Rs 567 crore in the October-December quarter of FY23, registering a YoY growth of 43%. Sales and profitability improved year-on-year due to a better product mix and growing demand from non-alcoholic beverages, packaged food and beer segments for glass container products.

Profit Before tax (PBT) jumped 48.84% YoY to Rs 69.27 crore in the Oct-Dec quarter of FY23 from Rs 46.54 crore in the Oct-Dec quarter of  FY22.

During the third quarter, operating EBITDA grew 39% YoY to Rs 113 crore, while the EBITDA margin stood at 20%. The company said it maintained a substantial EBITDA margin despite a sharp rise in input prices and rising inflation.

The company manufactures and markets various packaging products, including glass containers, products & security caps, Polyethylene Terephthalate (PET) bottles and closures.