Cosmo Films Limited, a leading name in films for packaging, labeling and lamination applications and synthetic paper, has declared its financial results for the third quarter ended 31 December 2017.
During Q3 FY18, sales volume increased by 33% YoY on the back of 90% capacity utilization of the new BOPP line commissioned in February 2017. Speciality sale has also grown by 30% YoY. Favorable impact of the volume increase was offset due to subdued commodity film margins through the quarter.
PAT and EPS are lower due to additional interest and depreciation of the new BOPP line and higher tax provision. In Q3 FY17, there was tax reversal of Rs. 6.2 crore relating to earlier periods.
Commenting on the financial performance of the company, Pankaj Poddar, chief executive officer, Cosmo Films Ltd. said, “BOPP film margins witnessed high volatility during the quarter with some stability returning in later part of December 2017. We remain focussed on speciality and export sales to ensure full utilization of our lines bringing further efficiencies to our operations.”