Home / Business and Economy / Garware Hi-Tech Profit, Revenue Drop in Q3

Garware Hi-Tech Profit, Revenue Drop in Q3

31 Jan

Summary

Net profit decreased by 8.3% to ₹55.7 crore in the third quarter.
Revenue saw a slight 1.6% decline, reaching ₹458.7 crore.
EBITDA fell 13% to ₹70.4 crore, with margins contracting.

Garware Hi-Tech Profit, Revenue Drop in Q3

Garware Hi-Tech Films Ltd. has announced its third-quarter financial results, indicating a downturn in performance compared to the previous year. The company reported a decrease in net profit, which dropped by 8.3% to ₹55.7 crore from ₹60.8 crore recorded in the same quarter last fiscal.

Revenue also experienced a slight decline of 1.6%, amounting to ₹458.7 crore, down from ₹466.3 crore year-on-year. Furthermore, the company's earnings before interest, tax, depreciation, and amortisation (EBITDA) saw a 13% reduction, settling at ₹70.4 crore as against ₹81 crore from the prior fiscal's December quarter. This financial performance resulted in a contraction of its margins to 15.3% from 17.3% in the year-ago period.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.