Stock Market update: Cosmo Films shares up by 2% post Q3 results

Stocks of Cosmo Films Ltd rose by 2% to ₹1,825.10 per equity share against the previous close at ₹1,798.85 per share, in today’s early trade.

The shares of  Cosmo Films have gone up by 2% at ₹1,825.10 per share against the previous close at ₹1,798.85 per share, in today’s early trade on NSE. Packaging firm Cosmo Films Ltd on Tuesday reported a 66.41% jump in its consolidated net profit to ₹104.42 crore for the third quarter ended December 2021, helped by lower finance cost and effective tax rate.

The company had posted a consolidated net profit of ₹62.75 crore in the October-December quarter a year ago, Cosmo Films said in a BSE filing.

The Q3FY22 EBITDA has increased by 44% (vs. corresponding quarter) on the back of higher speciality sales, better operating margins and improved performance by subsidiaries.

“Enhanced EBITDA together with lower finance cost and lower effective tax rate led to increasing in PAT by 65%,” Cosmo Films said in a post-earnings statement. Total expenses increased 29.55% to ₹645.26 crore, as against ₹498.07 crore earlier.

During the quarter, the company received sanctions under the production linked incentive (PLI) scheme for the production of speciality films for use in electronic products. The incentive under the scheme will be for five years on 100% production of its new plant.

In a separate filing, Cosmo Films said its board on Tuesday declared a second interim dividend of 100% or ₹10 per equity share. “Together with first interim dividend, the total dividend for FY22 would add up to Rs.35 per equity share compared to ₹25 for FY21,” it said.

 

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