TPL Plastech Ltd. (TPL), a subsidiary of Time Technoplast, has posted 22.8 per cent rise in its net profit at Rs. 4.48 crore in Q1 FY25 as compared to Rs. 3.65 crore net profit in Q1 FY24. Revenue from operations stood at Rs. 77.17 crore in Q1 FY25 as compared to Rs. 69.11 crore, reflecting a growth of 11.7 per cent.

"With steady demand for industrial packaging in key sectors like chemicals, specialty chemicals, and pharmaceuticals, the company has effectively met the rising needs in these areas. For the quarter ending June 2024, our volume grew by ~15%, and our total revenue increased by 12% compared to the same period last year. Our EBITDA margin improved significantly to 12.2% for Q1 FY25, and we anticipate it to improve further with increased revenue from Intermediate Bulk Containers (IBC), a value-added product. Over the medium term, demand for industrial packaging is expected to grow at a CAGR of 10% - 12%. Additionally, the shift of chemical manufacturing bases from China to other Asian countries, including India, presents promising growth opportunities,” the company said in a statement.