New Delhi, Jun 28 (PTI) Finolex Industries, manufacturer of PVC pipes and fittings has reported a 433.7 per cent rise in profit after tax (PAT) at Rs 297.33 crore for the quarter ended March 31, 2021.

The company had posted a PAT of Rs 55.71 crore in the year-ago period, Finolex Industries said in a statement.

"Profit after tax (PAT) was at Rs 297.33 crore for Q4 FY'21 –up 433.7 per cent against Rs 55.71 crore for Q4 FY'20," the statement said.

The net revenue of the company during the January-March quarter increased to Rs 1,249.34 crore, over Rs 768.66 crore in the year-ago period.

"We are confident that our business model, which is as strong and robust as the products and services we offer, will help us augment our growth. The company is confident of growing at an accelerated rate which is aligned with our overarching strategy to enhance value for all stakeholders.”

"For our shareholders, we continue with our policy of a high dividend payout ratio. We stand with our employees – our biggest assets and are happy to state that we not only announced increments and promotions during the year, but also paid a special incentive for all employees as the company completes 40 years of successful operations," Finolex Industries Ltd Chairman Prakash P Chhabria said.

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