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Garware Technical Fibres net profit up 14.2% in Q3 FY19

14 Feb '19

1 min read

Courtesy: Garware Technical Fibres

Garware Technical Fibres Ltd, a leading manufacturer of technical textiles for the Indian and global markets, has reported net profit growth of 14.2 per cent to ₹24.7 crore in Q3 FY2019 ending December 31, 2018 as compared to ₹21.6 crore in Q3 FY18. The net sales grew by 10.3 per cent to ₹ 222.2 crore in Q3 FY19 as compared to ₹201.5 crore in Q3 FY18.

For the nine months ending December 31, 2018, net sales of the company improved by 11.9 per cent to ₹728.3 crore against ₹650.7 crore during the same period in FY18. The profit after tax grew by 17.5 per cent to ₹89 crore as compared to ₹75.8 crore in corresponding period FY18, according to a press release by the company.

“In the third quarter our international and geo-synthetics businesses continued their growth momentum with some strong wins aided by our differentiated solution approach. Recently, we have been granted two patents which have tremendous potential to propel growth in the foreseeable future,” said Vayu Garware, CMD, Garware Technical Fibres. (PC)

Fibre2Fashion News Desk – India