According to reports from CNBC TV18, Garware Hi-Tech Films Ltd. reported a challenging third quarter with declines across key financial parameters. The company's net profit dropped 8.3% to ₹55.7 crore compared to ₹60.8 crore in the previous year. Revenue declined 1.6% to ₹459 crore from ₹466.3 crore in the corresponding quarter last fiscal year.
As reported by CNBC TV18, the company's EBITDA declined 13% to ₹70.4 crore from ₹81 crore in the December quarter of the previous fiscal year. More significantly, margins contracted to 15.3% from 17.3% in the year-ago period, indicating a 100 basis points decline in profitability margins. This margin compression reflects the company's operational challenges during the quarter.
According to CNBC TV18, shares of Garware Hi-Tech Films Ltd. ended the previous session 0.7% up at ₹3,016.7 per share. However, the stock has declined 16.9% in the past year, reflecting broader market concerns about the company's performance trajectory. The current quarter's results appear to have reinforced these negative sentiment trends among investors.
