18 August 2023, Mumbai
Garware Technical Fibres Ltd. reports strong Q1 FY24 results
- Net sales up 7% to Rs. 325.7 crore
- Pre-tax profit up 54% to Rs. 57.1 crore
- Post-tax profit up 52% to Rs. 43.0 crore
- EPS is up 54% to Rs. 21.08
Management commentary:
- FY24 has started off well and is on track with the strategic plan.
- Pre-tax profit margins have rebounded to 17%+ levels.
- The aquaculture business remains strong, especially in Chile.
- Geo-synthetics business continues to grow and deliver strong profitability.
- Domestic businesses also perform well.
- Management expects a good FY24.
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