Essel Propack, a packaging materials maker has signed a long-term agreement with Colgate-Palmolive India to set up a plant in Goa at an investment of Rs 40 crore.
The company’s net profit has dropped marginally by 4% to Rs 8.37 crore for the quarter ended March 31, 2011 against Rs 8.70 crore for the quarter ended March 31, 2010. The company has reported net sales / income from operations of Rs 348.71 crore for the quarter against Rs 300.67 crore in the same quarter last year.
For the year ended March 31, 2011, the net profit of the company declined by 23% to Rs 46.06 crore against Rs 59.92 crore for the year ended March 31, 2010. The company has reported net sales / income from operations of Rs 1411.92 crore for the year against Rs 1678.79 crore in last year.
Essel Propack, part of the Essel Group, is primarily engaged in manufacturing of laminated and plastic tubes and has operations in 13 countries. The Essel Group has a presence in packaging, entertainment, amusement parks, theme parks and satellite television channels.
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