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Plastic and textile product maker Sintex Industries Ltd on Thursday reported an increase in net profit by 338 per cent in the standalone parent company in the second quarter of 2012-13, ended September 30, compared with the corresponding period last fiscal.
The company said it would close down more units making monolithic construction material in a bid to consolidate business. While the company’s sales were Rs 688.59 crore (Rs 623.13 crore), an increase of 10 per cent, its net profit stood at Rs 56.77 crore (Rs 13.43 crore), according to a statement.
The company’s revenues in the monolithic construction material came down by 14 per cent, from Rs 282 crore in Q2 FY12 to Rs 242 crore in Q2 FY13. On Thursday, the company’s share price on the BSE ended 5.26 per cent up at Rs 74.05
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