Garware Technical Fibres Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 29, 2024 at 11:20 am
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Garware Technical Fibres Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 2,893.73 million compared to INR 2,745.8 million a year ago. Revenue was INR 3,005.93 million compared to INR 2,824.16 million a year ago. Net income was INR 432.6 million compared to INR 365.73 million a year ago. Basic earnings per share from continuing operations was INR 21.23 compared to INR 17.74 a year ago. Diluted earnings per share from continuing operations was INR 21.23 compared to INR 17.74 a year ago.
For the nine months, sales was INR 9,433.39 million compared to INR 9,350.63 million a year ago. Revenue was INR 9,739.95 million compared to INR 9,551.23 million a year ago. Net income was INR 1,387.05 million compared to INR 1,125.33 million a year ago. Basic earnings per share from continuing operations was INR 68.07 compared to INR 54.58 a year ago. Diluted earnings per share from continuing operations was INR 68.07 compared to INR 54.58 a year ago.
Garware Technical Fibres Limited is an India-based multi-divisional, multi-geographical technical textiles company. The Company's solutions include aquaculture, fisheries, agriculture, coated fabrics, shipping and offshore, defense and government sector, sports, geo-synthetics, industrial, material handling, safety, and yarn and threads. The Company's business segments include Synthetic Cordage, and Fibre and Industrial Products and Projects. The Synthetic Cordage segment comprises of ropes, twines and nettings made of twine. The Fibre and Industrial Products and Projects segment comprises of fibre, synthetic fabric, yarn, woven and non-woven textiles, secugrids, coated steel gabions, machinery and project. Its products are manufactured in facilities at Wai and Pune in Maharashtra, India, and are marketed in more than 75 countries worldwide. Its subsidiaries include Garware Environmental Services Pvt. Ltd., Garware Technical Fibres Chile SPA and Garware Technical Fibres USA Inc.