Jindal Poly Films slides after reporting dismal Q3 earnings

Jindal Poly Films tumbled 8.11% to Rs 661.10 after the company reported a consolidated net loss of Rs 96.63 crore in Q3 FY23 as against a net profit of Rs 217.98 crore in recorded Q3 FY22.

Revenue from operations dropped 34.8% to Rs 886.65 crore in Q3 FY23 from Rs 1,359.18 crore posted in the corresponding quarter previous year.

The company reported a pre tax loss of Rs 129.22 crore in the third quarter as compared with a profit before tax of Rs 304.75 crore registered in Q3 FY22.

The company's revenue from packaging films was at Rs 655.37 crore (down 45.84% YoY) and revenue from Nonwoven fabrics stood at Rs 134 crore (down 10.18% YoY) during the period under review.

 

Jindal Poly Films is engaged in diverse business activities including manufacturing of polyester film, polypropylene film, steel pipes and photographic products.

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