Cosmo Films reports 171 percent increase in Q3 FY20 PAT

Cosmo Films Limited, a global leader in films for packaging, labeling and lamination applications and synthetic paper today declared its financial results for the quarter ended December, 2019. Q3 FY20 net revenue increased by 4 percent on YOY basis backed by a better product mix and higher volumes. The improved performance is on account of higher sales of speciality films and strong operating margin on BOPP films (due to balanced demand supply scenario). Last year results included Rs. 8 crores of profit on sale of assets in US subsidiary following the relocation of plant. Commenting on the financial performance of the company, Pankaj Poddar, chief executive officer, Cosmo Films Ltd. said, “We have had one of the best quarterly results with a significant contribution coming from sales of newly developed products. The company’s R&D has done successful trials for in house manufacturing of certain masterbatches and coating chemicals as a part of backward integration/maintaining secrecy as well as diversification into new related business. The company shall start production, sales and internal consumption of these masterbatches…

Choose your subscription to read more