Filatex India Q3 net profit rises 35% despite revenue dip

Filatex India Ltd has posted a 35 per cent increase in net profit for the third quarter, reaching Rs 47 crore ($5.5 million), up from Rs 35 crore in the same period last year. The company’s revenue for the quarter, however, saw a slight decline of 1 per cent, totaling Rs 1,069 crore compared to Rs 1,083 crore in Q3 of the previous fiscal year.

Madhu Sudhan Bhageria, Chairman and Managing Director of Filatex India, attributed the improvement in profit to a positive shift in demand and margins starting in November. He noted that while the company experienced low demand and minimal margins in the first two quarters, the third quarter showed signs of recovery.

Bhageria highlighted a significant jump in EBITDA, rising from Rs 45 crore to Rs 75 crore, reflecting the company's stronger performance.

Filatex India, one of the leading manufacturers of polyester filament yarn in India, focuses on leveraging synergies within its integrated business model to drive growth. The company's ability to navigate market challenges while showing signs of recovery positions it for potential future growth as demand strengthens.