Net
revenue increased by 22% and PAT by 36%
In Rs. Crore
|
Q3 FY19
|
Q3 FY18
|
Net Revenue
|
557.7
|
458.4
|
EBITDA
|
36.3
|
37.3
|
PAT
|
13.3
|
9.8
|
EPS (in Rs.)
|
6.9
|
5.1
|
Cosmo Films Limited, a global leader in films
for packaging, labelling& lamination applications and synthetic paper today
declared
its financial results for the quarter ended December2018. The company has grown
both in terms of net revenue and EPS during the quarter.
FY19 net revenue
increased by 22% on YOY basis due to increase in sales volume (9%) and pass
through of increase inraw material prices (13%).
The domestic film
margins continued to decline until November. Besides there was an adverse
impact from one-time inventory revaluation loss of Rs.9 crores due to sudden
sharp fall in raw material prices towards December end. The results were also
impacted by hedging cost/forex losses of Rs.4.5 crores (vs. Rs.3.4 crores gain
in corresponding quarter).
Despite the adverse factors,
the company maintainedits EBITDAfrom increase in export margins, tax incentives
on new investment and one-time gain of Rs 8 crores from sale of land and building
in US subsidiary following the de-commissioning of plant.
Tax Expense for the
quarter ended 31 December’18 is net of deferred tax credit of Rs
3.7 crores with respect to temporary differences pursuant to filing of Income
Tax Return for AY 2018-19.
Commenting on the
financial performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films
Ltd. said, “The demand and supply
situation has started to get better with demand growth outpacing supply and the
price recovery may start happening in the foreseeable future. The company has
also stabilised its sales from additional capacity and thereforecan better focus
on improving prices and sales mix.
The
US thermal film plant has been relocated to India. Shifting to India shall help
company optimize cost and help improve capacity utilization. The thermal film
for sales in USA shall henceforth be entirely supplied from India.”
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