|
For the quarter ended Sep 18, net sales grew by 27% to Rs 261.84 crore. OPM was lower by 80 bps to 20.1% restricting the OP growth to 22% increase in OP to Rs 52.56 crore. Other income however was lower by 17% to Rs 3.64 crore due to lower treasury income in Sep 18 quarter. Interest cost was up by 44% to Rs 3.27 crore and depreciation was up by 13% to Rs 4.23 crore leading to a PBT of Rs 48.70 crore up by 17% YoY. After providing total tax of Rs 15.76 crore, PAT for the Sep 18 quarter stood at Rs 32.94 crore up by 17% YoY.
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."
Performance for 6 months ended Sep 18
For the 6 months ended Sep 18, net sales grew by 13% to Rs 506.09 crore. OPM was up by 270 bps to 20.6% resulting in a 30% increase in OP to Rs 104.29 crore. Other income was down by 53% to Rs 5.50 crore. Interest costs and depreciation was up by 42% and 12% respectively to Rs 6.60 crore and Rs 8.34 crore. After providing total tax of Rs 30.55 crore, PAT for Sep 18 quarter stood at Rs 64.30 crore up by 19% YoY.
|