Garware Hi-Tech Films Q3 results decline across parameters, margins narrow to 15.3%

Garware Hi-Tech Films Ltd. reported its earnings for the third quarter on Saturday, January 31.

It witnessed declines across net profit, revenue and earnings before interest, tax, depreciation and amortisation (EBITDA) in the third quarter, and its margins narrowed as well.

The company's net profit was down 8.3% to ₹55.7 crore from ₹60.8 crore in the previous year.

Its revenue of 458.7 crore was 1.6% below the previous year's ₹466.3 crore.

The company's EBITDA declined 13% as well to ₹70.4 crore from ₹81 crore in the December quarter last fiscal.

Its margins contracted to 15.3% from 17.3% in the year-ago period.

Shares of Garwari Hi-Tech Films Ltd. ended the previous session 0.7% up at 3,016.7 apiece. The stock has declined 16.9% in the past year.

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