Garware Hi Tech Films Reports Mixed Financial Results for December Quarter
Garware Hi Tech Films has announced its financial results for the quarter ending December 2024, showcasing a mixed performance. While cash and cash equivalents reached a six-half-year high, profit before tax and profit after tax both declined, alongside a decrease in net sales compared to previous quarters.
Garware Hi Tech Films, a midcap player in the packaging industry, has recently reported its financial results for the quarter ending December 2024. The results indicate a notable shift in the company's financial metrics, with the overall score experiencing an adjustment in evaluation over the past three months.The financial data reveals that Garware Hi Tech's cash and cash equivalents reached a peak of Rs 137.12 crore, marking the highest level in the last six half-yearly periods, suggesting an enhancement in short-term liquidity. However, the company faced challenges in other areas. The profit before tax (PBT) recorded a decline, standing at Rs 68.51 crore, which is lower than the average PBT of the previous four quarters. Similarly, profit after tax (PAT) also showed a decrease, reported at Rs 60.81 crore, reflecting a downward trend compared to the average PAT from the prior quarters. Additionally, net sales fell to Rs 466.37 crore, indicating a contraction relative to previous performance.
These results highlight the mixed performance of Garware Hi Tech Films, with certain aspects showing positive developments while others indicate areas of concern.
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