Technical textiles manufacturer Garware Technical Fibres reported an 11 per cent increase in March quarter consolidated net profit at ₹60 crore against ₹54 crore logged in the same period last year.

Revenue from operations was up 4 per cent at ₹370 crore (₹356 crore).

The company has announced a dividend of ₹3.50 a share.

Vayu Garware, Chairman and Managing Director, Garware Technical Fibre, said the financial performance of the company was much better on all the fronts with operating EBITDA margins improving 21 per cent in March quarter, primarily on account of strong pull from new aquaculture products in Chile and Scotland.

Geosynthetic business also registered excellent growth during the current quarter, he added.

Due to focussed and concentrated funds released from operations, the company has done well on capital management and as a result from cash generation from operations has significantly improved over the previous year, he said.

“We look forward to a good fiscal this year with international sport business expected to come back on track and some improvement in orders from Norway, which has been subdued due to new resource tax being imposed by Norwegian Government,” he added.