Ester Industries Q4 net up ten-fold

Plastic goods maker Ester Industries today said it has registered a more than ten-fold increase in its net profit at Rs 10.8 crore for the quarter ended March 31, 2009, against Rs one crore in the same period last year.      

During the quarter, the net sales of the company dipped by about three% to Rs 83.25 crore, from Rs 81.03 crore in the same period last year, Ester said in a statement.      

For the year ended March 31, 2009, the company's net profit increased by more than three times to Rs 33.43 crore from Rs 10.02 crore in the previous fiscal.      

"Our focus on production of value-added niche products in the last two years and enhancing capacity in future would enable us to achieve the desired objective of being a strong and vibrant company," Ester Industries Chairman and Managing Director Arvind Singhania said.      

The company's net sales for 2008-09 increased by 16.7% to Rs 372.41 crore from Rs 319.18 crore, it added.