Leading manufacturing company Cosmo Films announced its January-March quarter results for the financial year 2020-21, reporting a net profit of Rs 74.45 crore on a consolidated basis. According to a statement shared by Cosmo Films, the company’s net profit jumped 257 per cent – more than twice on a year-on-year basis, as its profit in the corresponding quarter of the previous fiscal was Rs 20.85 crore. The growth in profit was driven by higher specialty sales, better-operating margins, as well as a robust performance by subsidiaries.
Cosmo Film’s revenue from operations stood at Rs 671.80 crore in the fourth quarter of the fiscal year 2020-21 on a consolidated basis, compared to Rs 524.11 crore in the year-ago period. The company’s total income stood at Rs 685.03 crore, compared to Rs 530.20 crore in the corresponding quarter of the previous fiscal.
“Cosmo Films is a name to reckon globally for newer, innovative solutions. The specialty films sales have grown YoY in the last three years and growth rate in FY21 surpassed 20 per cent despite the base becoming larger each passing year reaffirming the company’s growth strategy through continuous investment in R&D, quality, customer satisfaction,” said Mr. Pankaj Poddar, CEO, Cosmo Films Limited.
On Friday, May 21, shares of Cosmo Films settled 1.35 per cent higher at Rs 805.80 apiece on the BSE. Cosmo Films opened the trading session at Rs 825, swinging to an intra day high of Rs 840, and an intra day low of Rs 800.05, throughout the session on Friday.
The company is said to be a global leader in films for labeling, packaging, lamination, as well as synthetic paper. It is also an emerging player in polymers, specialty chemicals, and pet care.