Garware-Wall Ropes Posts Decent Quarterly Result Stock Surges Over 2%

Garware-Wall Ropes on Wednesday reported a consolidated net profit of Rs 19.65 crore for the quarter ended March 31, 2017, as against Rs 17.29 crore for the same quarter in the previous year, as per BSE filing.

The board of directors at its meeting held on May 24, 2017, has recommended a dividend of Rs. 3.50 per share (35%) of Rs. 10 each. In addition, the board of Directors has also recommended a one-time special dividend of Rs. 1.50 per share (15%) of Rs. 10 each, as per BSE filing.

Meanwhile, Garware-Wall Ropes is up 2.7% at Rs 782 per share at 11:38 hours IST on BSE. It hit a high of Rs 787 and a low of Rs 768.25 so far during the day.

Garware-Wall Ropes Limited manufactures and sells various products, such as ropes, twine, yarn, fishnet, nettings and technical textiles. The company's segments include synthetic cordage, and Fibre and industrial products & projects.

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