Plastic products firm Finolex Industries announced Q3FY23 results: Q3FY23 vs Q3FY23: Total income from operations was Rs 1,124.76 crore for Q3FY23, up 11.95% against Rs 1,004.73 crore in Q3FY22. Volume in the Pipes & Fitting's segment was up 92.36% to 90,396 MT in Q3FY23, against 46,994 MT in Q3FY22. Volume in the PVC Resin segment was up 49% to 64,696 MT in Q3FY23, against 43,464 MT in Q3FY22. EBITDA stood at Rs 91.89 crore for Q3FY23, against Rs 241.90 crore for Q3FY22 and an EBITDA Loss of Rs 142.67 crore incurred in Q2FY23. PAT was Rs 71.69 crore for Q3FY23, against Rs 177.77 crore for Q3FY22. 9MFY23 vs 9MFY22: Total income from operations was Rs 3,255.99 crore for 9MFY23, up 6.66%, against Rs 3,052.76 crore in 9MFY22. Volume in the Pipes & Fitting's segment grew 40% to 2,21,574 MT in 9MFY23, against 1,58,266 MT in 9MFY22 Volume in the Resin segment was up 24.54% to 1,81,506 MT in 9MFY23, against 1,45,742 MT in 9MFY22 EBITDA for 9MFY23 was down 90.03% at Rs 75.11 crore and Rs 753.42 crore for 9MFY22. Profit after tax decreased 86.08% to Rs 76.90 crore in 9MFY23, against Rs 559.67 crore in 9MFY22. Commenting on the quarterly results, Prakash P Chhabria, Executive Chairman, Finolex Industries Limited, said, “Stability in prices at current levels and overall demand scenario could provide sustainable growth in the market. The correction in prices has also led to a substantial demand-pull. After witnessing a severe drop in PVC prices and resultant adverse impact on the earning performance of the company during the second quarter, the company’s performance in the third quarter improved significantly on the back of strong volume growth.” Result PDF