Piramal Glass Limited (PGL), a Piramal Group company & global manufacturer of glass flaconnage, foods, beverages and pharmaceuticals packaging has reported its best quarter ever while announcing its Q3 of FY2011 results. PGL reported a consolidated net profit of Rs. 266M, a growth of 135%. The key contributors to this are consolidated sales of Rs.3.11BN, a growth of 10.2% and EBIDTA of Rs. 784M, an increase by 31.3%. The EBITDA Margin for the same quarter improved to 25.3% - an improvement of 410 bps. Ajay Piramal, Chairman, Piramal Group said, "It is indeed heartening to see Piramal Glass achieve its best quarter ever. A PAT and EBIDTA rise of 135% and 31.3% respectively bear testimony to this. We are witnessing a shift in the global glass packaging ecosystem. Emerging economies are expected to drive the global glass industry. Global majors are shifting their packaging to India and PGL is geared up to respond to this." Vijay Shah MD, Piramal Glass said, "Our unique product mix with a focus on Cosmetics & Perfumery is driving our growth and profits. Cosmetics & Perfumery grew to 32% of the total sales. The premium subcategory grew by 50% contributing Rs. 80 Crores to the consolidated sales. This result is a vindication of our strategic investments so far. We are keen to end the year on a high."
