Jindal Poly Films tumbled 4.92% to Rs 757 after the company reported a fire accident at its subsidiary, JPFL Films' plant at Mundhegaon, Igatpuri, Nashik, Maharashtra on Sunday (1 January) at around 11.30 a.m. IST.
The company stated that the fire was controlled, but production operation at part of the said plant is disturbed temporarily.The cause of fire will be assessed in due course and the subsidiary is also in the process of ascertaining the actual loss caused by said accident.
The company added that there is adequate insurance coverage for said plant and intimation to insurance company has already been made.
Jindal Poly Films is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.
The company reported 90.9% jump in consolidated net profit to Rs 485.46 crore in Q2 FY23 over Q2 FY22. Net sales slipped 2.9% YoY to Rs 1,414.40 crore in the quarter ended 30 September 2022.
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