43.3% rise in Garware-Wall Ropes’ net profit

Garware-Wall Ropes Ltd (GWRL), a leading manufacturer of technical textiles for the Indian and global markets, has announced its financial results for the third quarter ended December 31st, 2015.

Q3FY16 Highlights are:

* Sales revenue grew by 0.5 per cent to Rs 185.46 crore in Q3FY16 as compared to Rs 184.60 crore in Q3FY15
* Profit before tax grew by 47.4 per cent to Rs 19.70 crore in Q3FY16 as compared to Rs13.37 crore in the same quarter last year
* Net profit after tax has grown by 43.3 per cent to Rs 14.60 crore in the quarter as against Rs 10.19 crore in the corresponding period of FY15
* EPS for Q3FY16 is at Rs 6.67; this is a growth of 55.3 per cent over Q3FY15

The 9MFY16 Highlights are:
* Sales revenue grew by 9.1 per cent to Rs 638.66 crore in 9MFY16 as compared to Rs 585.40 crore in 9MFY15
* Profit before tax grew by 44 per cent to Rs 62.79 crore in 9MFY16 as compared to Rs 43.60 crore in the same quarter last year
* Net profit after tax has grown by 44.8 per cent to Rs 44.59 crore in the quarter as against Rs 30.79 crore in the corresponding period of FY15
* EPS for 9MFY16 is at Rs 20.38; this is a growth of 56.9 per cent over 9MFY15

“The quarterly performance continues to reaffirm our strategy of focusing on innovation, geographic expansion and operational excellence. In spite of easing input costs resulting in subdued value growth, we have seen healthy margin increases. We expect to maintain this growth in the coming months as well” said Vayu Garware, CMD, Garware – Wall Ropes Ltd.

Garware-Wall Ropes Ltd. (GWRL) is an ISO 9001:2008 certified company. Established in 1976, the Company is a leading player in Technical Textiles, specializing in providing customized solutions to the cordage and infrastructure industry worldwide. A global player, the company is known for its innovation in the field of fisheries, aquaculture, shipping, sports, agriculture, coated fabrics and geosynthetics. GWRL products are manufactured in state-of-art facilities at Wai and Pune (both in Maharashtra, India) and are marketed in more than 75 countries worldwide.