Web Exclusive | November 2018
Garware Technical Fibres’ net profit up 18.8%
Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, has announced its financial results for the second quarter and half year ended September 30, 2018.
Net Sales grew by 27.1 per cent to Rs 262 crore in Q2FY19 as compared to Rs. 206 crore in Q2FY18
Profit before tax grew by 17.4 per cent to Rs 48.7 crore in Q2FY19 as compared to Rs 41.5 crore in the same quarter last year
Net profit (PAT) has grown by 17 per cent to Rs 32.9 crore in the quarter as against Rs 28.2 crore in the corresponding period of FY18
EPS for the period is at Rs15.05 in Q2FY19; this is a growth of 17 per cent over Q2FY18
Commenting on the performance, Vayu Garware, CMD, Garware Technical Fibres Ltd. stated, “The second quarter has seen a robust delivery in both revenue and profit propelled by our geo-synthetics and international business. There is also some inflationary effect due to the spurt in raw material prices this quarter as a result of increased crude prices. This has put some pressure on margins. However, we see this effect stabilizing over the coming months.”