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Garware Technical Fibres’ net profit up 18.8%

Nov 05, 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.

Q2FY19 Highlights: 
  • 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.”