Home / News / Garware Polyester Q3 FY21 revenue grows 31% to ₹259 cr

Garware Polyester Q3 FY21 revenue grows 31% to ₹259 cr

09 Feb '21

1 min read

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Garware Polyester Ltd (GPL), the flagship company of Garware Group and a leading player in specialty polyester films in India, has announced its financial results for third quarter (Q3) fiscal 2021 ended on December 31, 2020. Revenue for the quarter increased 31 per cent to ₹259.36 crore compared to revenue of ₹197.94 crore in the same quarter prior fiscal.

“PAT has increased by 217 per cent QoQ underscoring our focus on world-class execution and operational excellence and satisfied with our robust third quarter performance. As a responsible hi-tech performance film manufacturing company, we seek to deliver long-term economic value to our stakeholders,” SB Garware, chairman and managing director at GPL, said in a press release.

Net profit for Q3 FY21 after tax rose to ₹34.45 crore (Q3 FY20: ₹10.87 crore). EBITDA grew to ₹62.21 crore (₹26.16 crore).

“Emphasis towards specialty products has fuelled additional growth in the margins which has resulted in PBDT Margin reaching 22.75 per cent in Q3 FY21. We continue our focus on growth and see a strong and secure future for the organisation given this growth approach,” Garware said.

Fibre2Fashion News Desk (JL)

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