AGI Greenpac yesterday announced its financial results for the second quarter ending 30th September, 2022.
In Q2FY23, the company reported revenue from operations of Rs 513 crore, compared to Rs 309 crore in Q2FY22, registering a growth of 66 per cent on a YoY basis. The sales and profitability improved on a YoY basis on account of improved efficiencies. The company delivered EBITDA of Rs 87 crore, registering a growth of 17 per cent on a YoY basis. The company continued to maintain strong EBITDA margins despite a sharp increase in input prices, rising inflation and an increase in global interest rates. Net profit stood at Rs 34 crore, with margins of seven per cent, a statement from AGI Greenpac said.
Q2FY22 includes a one-time receipt of an insurance claim amounting to Rs 16 crore which is nil in Q2FY23. Further, the currency fluctuation incurred a foreign exchange loss of Rs 6 crore in Q2FY23 compared to a gain of Rs 0.2 crore in Q2FY22. Once the impact of one-time receipt of insurance claim and foreign exchange loss is neutralised, the adjusted EBITDA is Rs 93 crore in Q2FY23, registering a growth of 59 per cent on a YoY basis with a margin of 18 per cent, added the statement.
Further, according to the statement, the other financial performance highlights for H1 FY2023 are as follows:
- Revenue from operations stood at Rs 1034 crore, registering a growth of 72 per cent on YoY basis
- Operating EBITDA stood at Rs 180 crore, registering a growth of 35 per cent on YoY basis with margins of 17 per cent
- Net profit stood at Rs 100 crore, registering a growth of 101 per cent with margins of 10 per cent.
Apart from it, the financial performance highlights for Q2 FY2023, as per the statement, are the following:
- Revenue from operations stood at Rs 513 crore, registering a growth of 66 per cent on YoY basis
- Operating EBITDA stood at Rs 87 crore, registering a growth of 17 per cent on YoY basis with margins of 17 per cent
- Net profit stood at Rs 34 crore, registering a growth of nine per cent with margins of seven per cent.