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Filatex reports 50% YoY growth for Q2FY19
Filatex India Limited, a leading manufacturer of synthetic man-made filament yarns, said its Q2FY19 net profit increased 50 per cent to Rs 20.25 crore as the company opened a new production line.
India imposes duty on NFY from Vietnam, EU
The Indian government has imposed an anti-dumping duty ranging between $128.06 per tonne and $719.44 per tonne for five years on import of nylon filament yarn from Vietnam and the European Union.
Cotton demand to pick up
Cotton yarn production in India continued to remain sluggish during the 2017-18 registering only a marginal growth of about 0.1 per cent YoY after declining by about 2 per cent during the same period last year.
Yarn & fabric output down in Q1/18
Global yarn production decreased by -9 per cent between Q4/17 and Q1/18 while global fabric production also dipped from Q4/17 to Q1/18 by -10 per cent at world level.
Yarn and fabric production decreased in Q4/17
Global yarn stocks were stable between Q3/17 and Q4/17. A reduction in Brazil (-11 per cent), Egypt (-9 per cent), and Europe (-4 per cent) was cancelled out by a 3 per cent increase in Asia.
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