Technical textiles leader Garware Technical Fibres reported a 25 per cent increase in pre-tax profits (PAT) to Rs 180.2 crore for the first nine months of FY2024.
On a Q-o-Q basis, Garware Technical Fibers’ net sales during the quarter increased by 5 per cent to Rs 289.4 crore, profit before tax rose by18 per cent, and net profit jumped by 18 per cent compared to Q3 FY2023.
The company remained challenged by international logistics disruptions during the quarter. It reported strong growth in the Geosynthetics business and maintained margins across all segments.
Vayu Garware, Chairman and Managing Director expressed optimism for Q4 due to a robust global aquaculture order pipeline. However, he cautioned the company about potential material delivery challenges in Europe and South America.
Overall, Garware Technical Fibres’ strong order book and focus on margin improvement paint a positive picture for the future.
