GHFL Q1 profit jumps to Rs 36 cr

Garware Hi-Tech Films GHFL on Thursday reported nearly three-fold jump in profit after tax PAT at Rs 35.83 crore for June quarter 2021-22 due to focus on value added products, exports and higher share of consumer products.The companys PAT stood at Rs 13.61 crore in the year-go period, GHFL, formerly Garware Polyester, said in a statement.Revenue grew 80 per cent year-on-year during the quarter under review at Rs 305.60 crore.As the markets are opening up, we hope to maintain the growth momentum.

Garware Hi-Tech Films (GHFL) on Thursday reported a nearly three-fold jump in profit after tax (PAT) at Rs 35.83 crore for June quarter 2021-22 due to focus on value-added products, exports, and a higher share of consumer products.

The company's PAT stood at Rs 13.61 crore in the year-ago period, GHFL, formerly Garware Polyester, said in a statement.

Revenue grew 80 percent year-on-year during the quarter under review at Rs 305.60 crore.

"As the markets are opening up, we hope to maintain the growth momentum. We continue to put efforts into growing our revenue share through exports, which witnessed a growth of 76 percent in the first quarter on a YoY basis. ''Consistent improvement in our operating metrics reflects our relentless rigor of execution and our increased focus towards niche high margin specialty products, which has resulted in profit before tax margin reaching 20.1 percent in Q1FY22,'' GHFL Vice-Chairperson and Joint Managing Director Monika Garware said.

The outlook for the rest of the year is promising with an anticipated incremental revenue contribution from the newly launched PPF line, she said. ''Given the current visibility and a promising demand landscape, we foresee better times for us going ahead helping us realise our growth aspirations," she added.