/ Cosmo Films Q2 FY17 PAT UP 12% At Rs 21 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 4 November 2016

Cosmo Films Limited, a leading global player in speciality BOPP films, today declared its financial results for the second quarter ended Sep 30, 2016. During the quarter, gross margins have declined by 250 basis points due to subdued demand in overseas markets and commissioning of new capacities. Despite the decline in margins, both EBITDA and EPS havegrown vs. previous quarter on the back of growth in sale of speciality films and improved operational efficiencies.

On YOY basis, revenue has dropped due to fall in raw material prices which were passed on to the customers. EBIDTA gap is due to non-operative and non-repetitive items of Rs. 3.5 crores (mainly foreign currency fluctuations in subsidiaries). PAT was however, positively impacted due to lower tax in India from SEZ tax exemption which was not there in corresponding period of last year.

As previously informed, the company has entered into a definitive MOU for purchase of adjoining industrial land at Waluj (Aurangabad, Maharashtra) for upcoming expansions.

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