Filatex India, a synthetic filament yarn manufacturing company, has reported 61 per cent increase in March quarter net profit at ₹ 28 crore against ₹17 crore logged in the same period last year, largely due to higher production and exports.

Revenue in the quarter under review was up 22 per cent at ₹706 crore (₹579 crore). Ebitda increased 19 per cent to ₹55 crore (₹46 crore).

Filament yarn production rose 11 per cent to 60,550 tonnes in March quarter. Exports jumped eight per cent to ₹123 crore.

For the financial year ended March, the company’s net profit increased 42 per cent to ₹85 crore (₹60 crore). Revenue was up 46 per cent at ₹2,874 crore (₹1974 crore). Ebitda was up 38 per cent at ₹217 crore.

Madhu Sudhan Bhageria, Chairman and Managing Director, Filatex India said demand for man-made fibres will see a boost as the standard of living improves.

As India is moving away from an agrarian economy, natural fibres are becoming expensive and more difficult to grow due to paucity of arable land and water shortage. Synthetic Fibres are gradually replacing them as they offer similar quality and properties at much affordable cost, he said.

To contain cost of production, the company has planned to revive setting up captive power plant of 30 MW capacity at Dahej as the grid power cost in Gujarat has become very high, he added.

Filatex manufactures polyester and polypropylene multi-filament yarn and polyester chips. It has two manufacturing facilities at Dadra and Nagar Haveli and Dahej.

Related Topics
comment COMMENT NOW