Garware-Wall Ropes’ net profit goes up

MUMBAI: Technical textiles manufacturer Garware-Wall Ropes (GWRL) reported 13.6 per cent growth in net profit after tax (PAT) at Rs 19.64 crore in the fourth of 2016-17.The company's PAT stood at Rs 17.28 crore in the corresponding period of FY16. Net sales grew by 15 per cent at Rs 214.06 crore during the quarter under review compared to Rs 186.16 crore in the same quarter last year, GWRL said in a release, reports PTI. "Quarterly revenues are up 15 per cent over last year, driven by good growths in our global markets. In spite of an increase in commodity prices, profit growth has been driven by increased sales of our differentiated products coupled with productivity improvements.