Q3FY18 Results: Garware-Wall Ropes posts 15 per cent hike in net profits

Technical Textiles manufacturer Garware-Wall Ropes posted a 15 per cent hike in its net profit to Rs. 21.6 crore for the third quarter of the fiscal year 2018 on a yearly basis as compared to Rs. 18.8 crore in the same quarter of the previous fiscal year.

The net sales of the company rose by 4 per cent to Rs. 201.5 crore in the third quarter of FY18 as compared to Rs. 193.7 crore in the third quarter of fiscal year 2017. The EPS of the company increased by about 15 per cent to Rs. 9.89 crore in the third quarter of FY18 on a yearly basis.

The company has surged by over 57.78 per cent on the bourses in the past one year. However, the stock remained in the negative territory through out the trading session on Wednesday. The stock hit an intraday high of Rs. 993 per share and an intraday low of Rs. 940 per share on BSE on Wednesday. The stock closed at Rs. 949.95 per share, lower by 4.34 per cent on BSE on Wednesday.

The stock had hit its 52-week high of Rs. 1,089 per share on January 25, 2018 and its 52-week low of Rs. 584 per share on February 14, 2017 on BSE, respectively.