Cosmo Films reports over 170% increase in PAT at Rs 27.8 Cr
Cosmo Films Limited, a global leader in films for packaging, labeling & lamination applications and synthetic paper today declared its financial results for the quarter ended June, 2019.
Q1 FY20 net revenue increased 5% on YOY basis mainly on the strength of growth of sales volume. The company achieved EBITDA of Rs.60.6 crores during the quarter due to higher speciality sales, continued improvement in operational efficiencies, improvement in US operations and better BOPP films margins.
Commenting on the financial performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “BOPP films margins have improved vs. last year, though they are yet to reach the normalized levels. In the last few quarters, Cosmo has had many successful launches including sustainability projects (recyclable structures) with large consumer brands, improved and new versions of synthetic paper, and new varieties of label & industrial films. Going forward, the company shall continue to focus on speciality films with higher margins and lower capital expenditure yet requiring high level of research & development.”