Cosmo Films Limited, a global leader in films for packaging, labeling and lamination applications and synthetic paper today declared its financial results for the quarter ended 30 September 2018.
During Q2FY19, net revenue increased by 14% (YOY) due to partial pass through of increase in raw material prices, increase in sales volume and better sales mix. Domestic commodity film margins declined further on Y-o-Y basis, the Company could however, maintain EBITDA (excluding one-time item) primarily from enhanced operational efficiencies, better sales mix and tax incentives on new investment.
Commenting on the financial performance of the company Pankaj Poddar, CEO, Cosmo Films, said, “The company is navigating the tough times emanating from extremely poor commodity pricing in domestic market and remained focus on improving sales mix, focusing on internal efficiencies and increasing international sales. Though predictions cannot be made on domestic commodity margins, demand and supply is expected to balance out over next 3-4 Quarters. The improvement in overseas subsidiaries operations is encouraging and we expect further growth in sales in the overseas subsidiaries.”