Thursday, April 9th, 2020

Garware Technical Fibres Ltd. H1FY19 net profit rises by 18.8% to Rs. 64.3Cr

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.”



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