Garware-Wall Ropes Q4 net up 13.6% to Rs 19.64 crore

Technical textiles manufacturer Garware-Wall Ropes (GWRL) today reported 13.6 per cent growth in net profit after tax (PAT) at Rs 19.64 crore in the fourth of 2016-17.
The company's PAT stood at Rs 17.28 crore in the corresponding period of FY16.
Net sales grew by 15 per cent at Rs 214.06 crore during the quarter under review compared to Rs 186.16 crore in the same quarter last year, GWRL said in a release here.
"Quarterly revenues are up 15 per cent over last year, driven by good growths in our global markets. In spite of an increase in commodity prices, profit growth has been driven by increased sales of our differentiated products coupled with productivity improvements.

"We expect our focus on innovation, expansion and operational excellence to continue aiding our growth in the coming year," GWRL CMD Vayu Garware said.
The company's PAT grew by 34.6 per cent to Rs 83.27 crore in FY17 from Rs 61.88 crore last fiscal.
Net sales improved by 4.9 per cent to Rs 865.28 crore in FY17 from Rs 824.82 crore in FY16.