INVC NEWS
Mumbai,
Garware Technical Fibres Ltd. (formerly Garware-Wall Ropes Ltd.), a leading manufacturer of technical textiles for the Indian and global markets, today announced its financial results for the second quarter and half year ended September 30, 2018.
Q2FY19 Highlights:
§ Net Sales grew by 27.1% to Rs.262 Cr in Q2FY19 as compared to Rs. 206 Cr in Q2FY18
§ Profit before tax grew by 17.4% to Rs. 48.7 Cr in Q2FY19 as compared to Rs. 41.5 Cr in the same quarter last year
§ Net profit (PAT) has grown by 17% to Rs. 32.9 Cr in the quarter as against Rs. 28.2 Cr in the corresponding period of FY18
§ EPS for the period is at Rs.15.05 in Q2FY19; this is a growth of 17% over Q2FY18
H1FY19 Highlights:
§ Net Sales grew by 12.7% to Rs. 506.1 Cr in H1FY19 as compared to Rs. 449.2 Cr in H1FY18
§ Profit before tax grew by 18.7% to Rs. 94.8 Cr in H1FY19 as compared to Rs. 79.9 Cr in the same period last year
§ Net profit (PAT) has grown by 18.8% to Rs. 64.3 Cr in the period as against Rs. 54.1 Cr in the corresponding period of FY18
§ EPS for the period is at Rs. 29.38 in H1FY19; this is a growth of 18.8% over H1FY18
Management Comments:
Commenting on the performance, Mr. 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.”
