Garware Technical Fibres Limited (NSE: GARFIBRES) is a leading manufacturer of technical textiles and specialty fibers used in various industries such as fisheries, aquaculture, agriculture, defense, and infrastructure. The company has a strong presence in India and exports its products to over 75 countries worldwide. Garware Technical Fibres has manufacturing facilities located in India, the United States, and Thailand.
In terms of earnings, Revenue from Operations for Q3 FY23 was ₹274.58 crore, a 12% increase from ₹308.13 crore in the same period last year. The third quarter’s Synthetic Cordage segment, which contributed ₹239.97 Crore to the Total Revenue. Meanwhile, the Fibre & Industrial Product segment improved to ₹39.29 Crore from ₹37.77 Crore from the same quarter previous year. The Consolidated Net Profit was ₹36.57 crore, down 4% from ₹38.06 crore in the same quarter last year. This quarter’s earnings per share was ₹17.74. In the same time period, the company’s Tax Expense increased up to ₹19 Crore from ₹12.8 Crore.
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