BC Jindal Group's flexible packaging film manufacturer, Jindal Poly Films, reported a 88% jump in net sales in the third quarter of FY11, vis-à-vis the same quarter last year. Net profit also soared, over five-folds, to Rs. 221 crore, reporting net margins of a whopping 30.3%. Even on a QoQ basis, revenues and net profit have risen 6% and 23% respectively. EPS for nine months ended 31-12-10 stood at Rs. 104, versus Rs. 33 for FY10 and Rs. 56 for H1FY11. 

India's largest producer of PET and BOPP films, its subsidiary, Jindal Resources (Mozambique), has been granted the concession on a block of 1,480 hectares, estimated to house 150 million tons coal reserves, for coal prospecting and exploration. Another subsidiary, Jindal Metal and Mining, has entered into partnership with a Mozambican company to prospect, explore and mine coal, in a block estimated to contain 300 million tons of thermal coal. The company's African subsidiaries may continue to give philip to its profitability in the future.