The consolidated net profit of Garware Technical Fibers jumped by 49.1 per cent to Rs 53.2 crore in the fourth quarter ended March 31, 2021. The company’s net sales during Q4 increased 32.8 per cent to Rs 335.4 crore, compared to Rs 252.6 crore in the year-ago period. Garware’s consolidated net profit for the financial year 2020-21 grew 12.7 per cent to Rs 158.4 crore as compared with Rs 140.5 crore in the previous financial year. Net sales in FY 2020-21 increased 8.5 per cent to Rs 1,034.6 crore, compared with Rs 953.1 crore in FY 2019-20.

Vayu Garware, Chairman and Managing Director says, international business demand for the firm's solutions helped the company meet customer expectations despite the initial challenges in the first quarter of FY21.