Garware Hi-Tech Films Q4 consolidated PAT up 42 pc at Rs 45 cr

Garware Hi-Tech Films (GHFL), formerly Garware Polyester, on Thursday reported a 41.88 per cent growth in consolidated profit after tax at Rs 45.12 crore during the quarter ended March 31, 2022.

The specialty performance polyester films manufacturer had posted a profit after tax (PAT) of Rs 31.80 crore in the corresponding quarter of 2020-21, the company said in a regulatory filing.

Revenue from operations of the company went up by 12.13 per cent during the quarter under review to Rs 323.51 crore, compared to Rs 287.74 crore in the same period of the previous fiscal.

For the year 2021-22, the company's PAT grew by 32.73 per cent to Rs 167.18 crore, compared to Rs 125.95 crore in the previous year.

Revenue from operations of the company grew by 31.70 per cent during 2021-22 at Rs 1,302.63 crore, compared to Rs 989.03 crore in the previous financial year.

''Our business initiatives undertaken a few years ago with a long-term and financially conservative outlook are bearing fruit, and our company has earned record revenues and profits, despite challenging external environmental factors.

''In the coming year, we anticipate our new lamination facility to commence production, and our paint protection film to see increased volume as it has been tested and approved by our major trading partners in USA and Europe,'' GHFL Chairperson and Managing Director S B Garware said.

Company's shares on Thursday closed at Rs 673.85, up 8.01 per cent on BSE.

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