Thirteen August 2024, Hyderabad: Leading producer of technical textiles for the Indian and international markets, Garware Technical Fibres Ltd., released its unaudited financial results for the quarter that concluded on June 30, 2024, today.
Combined: Q1 FY25 Standouts:
During Q1 FY25, Net Sales climbed by 3% to Rs. 336.3 Cr from Rs. 325.7 Cr in Q1 FY24.
During the first quarter of FY25, profit before tax rose by 9% to Rs. 62.1 Cr from Rs. 57.1 Cr during the same time the previous year.
Net profit after tax climbed to Rs. 46.8 Cr in Q1 FY25 from Rs. 43.0 Cr in the same quarter in FY24, a 9% rise.
EPS for the first quarter of FY25 is Rs. 23.38, up 11% from the first quarter of FY24.
Management Remarks:
The CMD of Garware Technical Fibres Ltd., Mr. Vayu Garware, stated in a statement: “FY25 started well with a good order book, especially from Aquaculture business from North Europe and Chile.” During the past quarter, our factories have been operating at almost maximum capacity. But this doesn’t represent since the majority of this manufacturing has been transported to Chile and Norway for billing locally during the second quarter. Q1 FY25 saw steady increase in domestic business, and The geosynthetics industry is also expected to have a very successful year in FY25.
Profit increase in Q1 FY25 was 9% higher than in Q1 FY24 of the previous year. All things considered, we anticipate a healthy profit increase in Q2 FY25 and a successful first half of the year.
Concerning Garware Technical Fibres Limited: (NSE: GARFIBRES; BSE: 509557)
A prominent participant in the technical textile industry, Garware Technical Fibres Ltd. is certified ISO 9001:2015 and ISO 14001:2015 and focuses on offering specialized solutions to its global clientele. The business is well-known across the world for its applied innovation in the domains of sports, fishing, aquaculture, shipping, and agriculture. geosynthetics and coated textiles. The firm produces its goods at cutting-edge facilities located in Wai and Pune, with products sold in over 75 nations.
Please visit http://www.garwarefibres.com for further details.
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