Q3 sales up 23.7%; profit down after Rs 96 million plant closure charge
HUHTAMAKI · price
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Q3 net sales rose 23.7% year on year to Rs 7,481 million, while nine-month sales increased 15.7% to Rs 20,704 million. Q3 profit after tax fell to Rs 297.3 million from Rs 367.7 million, including a Rs 96 million charge for closing a pressure-sensitive labels plant. Nine-month profit after tax rose 12.7% to Rs 991 million. The auditor's review was unmodified.
Strong sales growth supports sentiment, but plant closure costs and flat Q3 operating profit before the charge may weigh on the near-term stock view.