Indian glass manufacturer AGI Greenpac celebrates a significant milestone with a 36% increase in EBITDA, revealing impressive financial results for the third quarter of fiscal year 2024.
AGI Greenpac, a prominent Indian glass manufacturer, has marked a notable achievement in its latest financial report, disclosing a remarkable 36% rise in EBITDA. The company’s Q3 FY24 financial results, covering the period ending December 31st, 2023, showcase robust performance and sustained growth.
In Q3 FY24, AGI Greenpac reported Revenue from Operations amounting to ₹622 crore, reflecting a commendable 10% growth compared to the corresponding period in the previous fiscal. The EBITDA witnessed a substantial surge, reaching ₹153 crore, a notable increase from ₹113 crore in the December 2022 quarter. The EBITDA margin also demonstrated improvement, rising to 25% from 20% in the December 2022 quarter. Earnings per share showed positive momentum, climbing to ₹10.37 in Q3 FY24, compared to ₹8.23 in the December 2022 quarter.
For the first nine months of FY24, Revenue from Operations stood at ₹1796 crore, indicating a robust 12% year-on-year growth. The EBITDA for the same period reached ₹432 crore, marking an impressive 48% year-on-year growth, while Profit After Tax demonstrated a commendable 22% year-on-year growth, amounting to ₹187 crore.
Mr. Sandip Somany, Chairman, and Managing Director of AGI Greenpac, expressed his satisfaction with the Q3 FY24 performance, stating, “Our performance in Q3 FY24 underscores sustained growth and profitability, a testament to our focus on key drivers such as operational efficiencies and a superior product mix. With a robust product pipeline and a steadfast focus on glass packaging products, we are poised to maintain this growth momentum. Moving forward, our unwavering commitment to excellence and innovation positions us to capitalize on emerging opportunities in the packaging products segment.”
Source: GlassBalkan
