Garware Polyester net profit up in Q3

Aurangabad, Feb 8: Garware Polyester Ltd (GPL), the flagship company of the Garware Group and a leading player in specialty Polyester Films in India, declared its results for the quarter ending December 31, 2020, recently.

The company revenue at Rs 259.36 crore (vs Rs 197.94 crore in Q3 FY’20) grew by 31% on Q-o-Q basis. The net profit for the period after tax was at Rs 34.45 crore (vs Rs 10.87 crore in Q3 FY’20) on Q-o-Q basis.

The company has recorded consolidated revenues of Rs 287.31 crore for Q3FY21 as against Rs 205.23 crore for Q3FY20 and Rs 710.65 crore for 9MFY21 as against Rs 713.79 crore for 9MFY20. The consolidated profit before tax was Rs 64.29 crore for Q3FY21 as against Rs 17.04 crore for Q3FY20 and Rs 143.47 crore for 9MFY21 as against Rs 98.85 crore for 9MFY20 up by 45.1%. The consolidated profit after tax was Rs 42.78 crore for Q3FY21 as against Rs 11.37 crore for Q3FY20 and Rs 94.15 crore for 9MFY21 as against Rs 64.95 crore for 9MFY20.

Expressing satisfaction over performance, S B Garware, chairman and managing director, GPL, said, “PAT has increased by 217% QoQ underscoring our focus on operational excellence.”