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. Revenue rose 73 per cent to Rs 718 crore during the July-September quarter. The results are unaudited.
Quarterly performance:
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Net profit surged to Rs 20.25 crore in Q2FY19 from Rs 13.52 crore Q2FY18, up by 50 per cent YoY
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Standalone revenue stood at Rs 718 crore in Q2FY19 from Rs 414 crore Q2FY18, up 73 per cent YoY
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EBITDA at Rs 64.84 crore in Q2FY19 from Rs 36.08 crore Q2FY18, up by 79 per cent YoY
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EBITDA margin rose to 9.03 per cent Q2FY19 from 8.71 per cent in the same period last year
Commenting on the performance, Madhu Sudhan Bhageria, Chairman & Managing Director, Filatex India, said, “As the standard of living improves, demand for man-made fibers will see a boost globally and locally. In India, as we move away from an agrarian economy, natural fibers are becoming expensive and more difficult to grow due to paucity of arable land. Synthetic Fibers are gradually replacing them as they offer similar quality and properties at much affordable cost. At Filatex, we are preparing for this boom by manufacturing top quality and cost-effective yarns. We are expanding capacity to meet growing domestic needs along with our already flourishing exports business. We are also exploring technology for manufacturing value added fabrics which are currently being imported.â€Â
FIL is engaged in manufacturing and trading of synthetic yarn and textiles. The company manufactures polyester and polypropylene multi-filament yarn and polyester chips. Filatex’s product offerings include complete range of filament, be it POY, DTY or FDY in semi dull, bright and colors of different shade, covering a wide range of coarse and fine denier.