Fiberweb India Q2 FY23 QoQ Revenue Up By 48%

Fiberweb (India) Ltd. a 100% EOU & manufacturers of nonwoven fabrics announced its unaudited Q2 FY23 result.

Q2 FY23 Key Financials at a Glance:

- Total Income for the Q2 FY23 stood at Rs. 25.81 crore.
- EBITDA for the Q2 FY23 stood at Rs. 2.84 crore.
- PAT for the Q2 FY23 stood at Rs. 1.64 crore.
- EPS for the Q2 FY23 stood at Rs. 0.57

Speaking on the occasion Mr. Bhavesh P Sheth, Director of Fiberweb (India) Ltd said, "There is an impact of multiple headwinds on the business in our main market of the USA for Q2 FY23 like disproportionate Freight Cost, Economic Slowdown in the USA.

We had to reduce our profit margins to maintain good relations with our marquee customers and continue doing good business with them.

More focus on value-added products has helped us to increase our turnover and helped us in keep our margins at reasonable levels.

From October onwards we have seen a reduction in the freight cost. Once shipping freight normalizes we will see these value-added products will improve our profitability margins."

Shares of FIBERWEB (INDIA) LTD. was last trading in BSE at Rs. 38.00 as compared to the previous close of Rs. 39.05. The total number of shares traded during the day was 14325 in over 80 trades.

The stock hit an intraday high of Rs. 38.80 and intraday low of 37.65. The net turnover during the day was Rs. 543474.00.

Source : Equity Bulls

Keywords

FIBERWEBINDIA INE296C01020 Q2FY23 H1FY23 ResultUpdate