Results: Garware Hi-Tech Films Q4 PAT jumps 51% to Rs 31.80 crore

PTIUpdated: Thursday, May 27, 2021, 10:58 PM IST
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Garware Hi-Tech Films Ltd (GHFL), formerly Garware Polyester, on Thursday reported a 51 per cent jump in its profit after tax (PAT) to Rs 31.80 crore for the March 2021 quarter.

The company's PAT stood at Rs 21.07 crore in the corresponding quarter of the previous financial year 2019-20, GHFL said in a statement.

Its revenue in January-March 2021 witnessed a growth of 30.4 per cent to Rs 287.74 crore, compared with Rs 220.67 crore in the year-ago period.

For the full year 2020-21, the company's PAT jumped 46.41 per cent to Rs 125.95 crore, compared with Rs 86.02 crore in 2019-20.

The firm's revenue during 2020-21 rose 6.9 per cent to Rs 989.03 crore, compared with Rs 924.83 crore in the previous financial year.

"As a responsible Hi-Tech performance film manufacturing company, we seek to deliver long-term economic value to our stakeholders.

"Emphasis towards specialty products has fueled additional growth in the margins which has resulted in PBDT margin reaching 22.75 per cent in quarter three of FY21," GHFL Chairman and Managing Director S B Garware said.

He added that the company continues its focus on growth and sees a strong and secure future given this growth approach.

Shares of the company on Thursday closed at Rs 809.70, down 8.43 per cent on the BSE.

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