You are here: Home » Companies » News
Business Standard

Garware Hi-Tech Films Q2 net profit rises 14.7% to Rs 43.34 crore

The company's total revenue during the quarter under review rose 36.28 per cent to Rs 339.62 crore

Topics
Garware Polyester | Q2 results | Polymers

Press Trust of India  |  Mumbai 

Polymer
Shares of the company on Thursday closed at Rs 942.45, up 3.01 per cent on BSE (Photo: Shutterstock.com)

Garware Hi-Tech Films, formerly Garware Polyester, on Thursday posted 14.77 per cent growth in consolidated net profit to Rs 43.34 crore in the second quarter ended September 30.

The company had reported a net profit of Rs 37.76 crore in the year-ago period, Garware Hi-Tech Films said in a statement.

The total revenue during the quarter under review rose 36.28 per cent to Rs 339.62 crore, compared to Rs 249.20 crore in the same period of the last fiscal.

"Our strong performance in the first half is driven by all operational and financial metrics. Our constant focus and efforts on high performance and value-added products in key global markets have yielded excellent results.

Our revenue share from exports has witnessed a growth of 31 per cent in the second quarter on a Y-o-Y basis," GHFL Vice-Chairperson and Joint MD Monika Garware said.

She said the company's increased focus towards niche high margin speciality products is reflected in its financial performance.

"The outlook for the rest of the year continues to remain promising. The global demand scenario in auto, construction, packaging and other sectors remains buoyant, and we are hopeful of maintaining the momentum in the remaining half of the financial year," she added.

Shares of the company on Thursday closed at Rs 942.45, up 3.01 per cent on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 11 2021. 20:01 IST
RECOMMENDED FOR YOU
.