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In the quarter ended December 2010, Asahi India Glass (AIS) - India's largest integrated glass Company, reported consolidated sales growth of 19% to Rs 399.75 crore, with all segments contributing towards it. PBIT of the float glass segment grew to positive Rs 17.09 crore against negative Rs 2.32 crore, contributing towards a 322% increase in net profit to Rs 6.2 crore. But the OPM had fallen by 150 basis points to 17.6%. For the nine month period ended December 2010, Company' consolidated net sales grew by 17% to Rs 1137.88 crore and accordingly there was a net profit of Rs 14.2 crore compared to a net loss of Rs 7.52 crore. But the OPM had declined by 70 basis points to 18%.
For the quarter ended December 2010 the company's consolidated sales grew by 19% to Rs 399.75 crore contributed by growth in all segments. The automotive glass sales grew by 13% to Rs 213.39 crore, the float glass sales rose by 10% to Rs 185.73 crore, both forming 50% and 43% of the total sales. Other segment forming 7% of the total grew by 23% to Rs 28.21 crore. There was a fall in OPM by 150 basis points to 17.6% and the operating profit grew by 9% to Rs 70.17 crore. Other income declined by 101% to Rs 3 lakh.
Interest expense declined by 1% to Rs 31.11 crore, so did depreciation / amortistion by 7% to Rs 30.68 crore. PBIT of automotive glass segment, declined by 37% to Rs 21.9 crore, forming 55% of the total PBIT. PBIT of float glass was positive at Rs 17.09 crore compared to negative Rs 2.32 crore, forming 43% of the total. Other segment being 1% of the total declined by 39% to Rs 47 lakh.
The company recorded PBT of Rs 8.35 crore against Rs 2.07 crore, a 303% growth. PAT before special adjustments grew by 397% to Rs 5.82 crore. Share of profits from associates grew by 153% to Rs 43 lakh, while there was a positive minority interest of Rs 5 lakh compared to negative Rs 13 lakh, leading to 322% growth in net profit to Rs 6.2 crore.
During the nine month ended December 2010, the consolidated topline grew by 17% to Rs 1137.88 crore. The automotive glass sales grew by 20% to Rs 613.35 crore, the float glass sales rose by 8% to Rs 523.42 crore, both forming 50% and 43% of the total sales. Other segment forming 7% of the total grew by 40% to Rs 84.41 crore. There was a fall OPM by 70 basis points to 18%. Other income declined by 88% to Rs 34 lakh.
Interest expense declined by 4% to Rs 93.82 crore, so did depreciation / amortistion by 7% to Rs 91.47 crore. The PBIT of automotive glass declined by 26% to Rs 66.41 crore, it being 58% of the total PBIT, but the float glass segment showed a positive PBIT of Rs 45.76 crore compared to negative Rs 5.42 crore, forming 40% of the total. Other segment, contributing 1% to the total declined by 36% to Rs 1.63 crore.
The company recorded PBT of Rs 19.98 crore against a loss of Rs 11.66 crore. PAT before special adjustments was at Rs 14.03 crore compared to a loss af Rs 8.08 crore. Share of profits from associates grew by 103% to Rs 61 lakh, while there was a positive minority interest of Rs 44 lakh compared to negative Rs 26 lakh, leading to a positive net profit to Rs 14.2 crore against a loss of Rs 7.52 crore.
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