Asahi India Glass (AIS) announced sales growth of 13% to INR 1.76 billion in the 3Q 2004-2005 from INR 1.56 billion in the year-ago period. Net profit increased to INR 244.4 million in the October to …
Asahi India Glass (AIS) announced sales growth of 13% to INR 1.76 billion in the 3Q 2004-2005 from INR 1.56 billion in the year-ago period. Net profit increased to INR 244.4 million in the October to December 2004 period, up 39% from INR 175.4 million in the 3Q 2003-2004, mainly due to the low incidence of depreciation and foreign exchange gain recorded during the period. Commenting on the results, Mr Sanjay Labroo, Asahi India Glass Managing Director and CEO said, “The performance was impacted during the period and operating margins came under pressure due to certain higher input costs and overheads, mainly in the Auto Glass Unit, which we believe are one time. The counter-measures taken by AIS have started yielding the desired results. The underlying performance, however, continues to be strong and robust, on the expected lines”.