Garware Polyester Q2 results: PAT jumps 41% to Rs 38 crore

Garware Polyester Ltd (GPL) has reported around 41 per cent jump in consolidated net profit after tax (PAT) to Rs 37.76 crore for the quarter ended September 30.
The company, which makes performance polyester films, had posted a net PAT of Rs 26.76 crore in the corresponding period of the previous financial year, according to a BSE filing.

Its total revenue during July-September 2020 stood at Rs 252.07 crore, compared with Rs 253.51 crore in the year-ago period.

Total expenses were at Rs 193.59 crore in the September 2020 quarter, a fall of 8.95 per cent as compared with Rs 212.64 crore in the year-ago quarter.

GPL Chairman and Managing Director S B Garware said, "We are satisfied with our strong second quarter performance. Consistent improvement in our operating metrics reflects our relentless rigour of execution."

He added that the company has invested out of planned investments to the tune of Rs 47.78 crore as on September 30. "Our focus now is on growth in this fiscal and beyond. We see a strong and secure future for the organisation given this growth approach."

GPL has a manufacturing facility at Aurangabad, Maharashtra.