Garware Fibres hits new high

Garware Fibres is buzzing loud and clear today; taking up the spot of top gainer on the BSE since the opening bell, volumes are up with current total traded quantity (TTQ) at 5700 v/s 2-week quantity of less than 1500. The stock, which had closed at Rs.3951.60, opened 4.5% higher and soon rose to hit a new 52-week high at Rs.4567.80.

The market continues to react to its earnings for Q2FY25. The company which makes technical textiles for the Indian and global markets, put out its earnings on Thursday:

Consolidated: Q2 FY25 Highlights (YoY):

• Net Sales increased by 28% to Rs. 421 crore

• Profit before tax increased by 29% to Rs. 88 crore

• Net profit after tax has increased by 26% to Rs. 66 crore

• EPS for Q2 FY25 is at Rs. 33.10, a growth of 29%

The company said that the strong performance from Aquaculture and Geosynthetics businesses is what mainly propelled the earnings and it expects to continue the growth momentum during the second half of the year FY25.