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Filatex posts revenue of ₹737.7 crore in Q3 FY20

17
Feb '20
Pic: Filatex
Pic: Filatex
Filatex India Ltd, a manufacturer and trader of synthetic filament yarn and textiles, posted revenue of ₹737.7 crore in third quarter (Q3) FY20 compared to ₹745.8 crore in same period last year. For the nine months period that ended on December 31, 2019, the revenue decreased to ₹2114.8 compared to ₹2168.3 crore in same period last year. 
 
"This year the revenues are slightly less than the same period last year. The drop is due to lower crude prices which have a direct impact on key raw materials i.e. PTA & MEG," Madhusudhan Bhageria, chairman & managing director, Filatex India Ltd, said in a press release.
 
EBITDA (earnings before interest, taxes, depreciation, and amortisation) in the quarter increased to ₹55.9 crore compared to ₹39.7 crore in Q3 FY19. EBIDTA for year-over-year (Y-o-Y) basis reduced to ₹159.7 crore against ₹161.4 crore in same period last year. 
 
"However, the EBITDA margin is almost the same as compared to the previous period as the variations be it increase or decrease in raw material prices is passed on to customers," Bhageria said.
 
Net Profit in Q3 FY20 increased to ₹18.6 crore against ₹16.3 crore in same period last year. For Y-o-Y basis net profit increased to ₹100.4 crore compared to ₹56.7 crore in same period last year.
 
"Overall, the performance for Q3 FY 19-20 is good keeping in view the general economic slowdown and competitive environment," Bhageria said. 
 
"We have completed installation of around 75 per cent of our new capacity for texturising. In the forthcoming quarter, we will have the benefit of additional texturised product which has good export potential. We expect next quarter will be better as the demand for polyester filaments is expected to grow. The abolition of anti-dumping duty in this budget has given a positive stimulus to the demand and sentiments in the domestic market," Bhageria said in the release.

Fibre2Fashion News Desk (JL)


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