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Net sales for quarter ended Sep'16 stood at Rs 232.45 crore, down by 3% YoY basis. OPM stood at 17.2%, up by 610 bps thus resulting in OP growth of 51% to Rs 39.95 crore. Other income was up by 882% at Rs3.34 crore. Interest costs was lower by 24% to Rs 1.63 crore resulting PBDT growth of 69% to Rs 41.66 crore. Depreciation was up by 9% to Rs 3.52 crore resulting a 78% growth in PBT to Rs 38.14 crore. After paying total tax of Rs 12.13 crore, up by 100% YoY, PAT for the quarter ended Sep'16 stood at Rs 26.01 crore, up by 69% YoY.
Speaking on the results, Mr. Vayu Garware, CMD, Garware-Wall Ropes Ltd. said, "During the second quarter of the year, we have seen healthy growths in our fisheries and aquaculture businesses. Importantly, our value added products have led this growth across business segments. We expect that the demand for our application centric products will continue to be robust for the rest of the year".
Performance for 6 months ended Sep'16
For the 6 months ended Sep'16, net sales were up by 1% to Rs 457.52 crore. OPM was higher by 390 bps to 15.5% resulting in a 35% to Rs 70.82 crore. Other income stood at Rs 5.81 crore as compared to Rs 1.05 crore for 6 months ended Sep'15. Interest costs were lower by 22% to Rs 3.09. Depreciation was up by 9% to Rs 6.99 crore. PBT was higher by 54% to Rs 66.55 crore. After providing total tax of Rs 20.77 crore, PAT for 6 months ended Sep'16 stood at Rs 45.78 crore up by 53% YoY.
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