Cosmo Films Ltd has reported an 83.65 per cent increase in consolidated net profit to Rs 52.71 crore in the second quarter ended September.
The company will sell an additional 169 million new shares should a so-called greenshoe option be exercised in full, the filing said
Packaging products maker Cosmo Films on Wednesday said it will invest Rs 300 crore to set up a new line of speciality polyester films
Specialty chemicals and packaging businesses to aid near term growth
Packaging firms have witnessed higher volume growth and better earnings in the April-June quarter, helped by a rise in consumption of packed products amid the coronavirus lockdown
Ruling out inorganic route to scale up, he said they plan to increase output gradually in a modular manner every year so that both manpower and technology go hand in hand to meet rising demand
Cosmo Films gained 1.82 per cent to its fresh all-time high of Rs 488.95 on the BSE after announcing its June quarter earnings
It said that the boom in e-commerce and organised retail will enhance the growth of plastic packaging and per-capita consumption in the years to come