Garware Technical Fibres Q4 profit up 25 pc

Garware Technical Fibres posted a net profit of Rs 36.6 crore for the fourth quarter ended March 2019, up 24.7 per cent over the year-ago period.

It posted a profit of Rs 29.3 crore during January-March, 2017-18.

As per a BSE filing, the company's revenue grew 23.3 per cent to Rs 289.5 crore in the quarter under review as compared to Rs 234.8 crore in the year-ago period.

For 2018-19, the company registered a profit after tax of Rs 125.6 crore, up 19.5 per cent over the preceding year.

"Our value added differentiated products are gaining widespread acceptance with our customers and we have a robust pipeline of innovative solutions that have poised us well to deliver on our five-year profitable growth trajectory," said Vayu Garware, CMD, Garware Technical Fibres.

 

Shares of the company closed at Rs 1,220 a piece on BSE, up 2.6 per cent from the previous close.

The company manufacture its products at Wai and Pune and they are marketed in more than 75 countries.