Cosmo Films expects 20% net profit growth in FY22
Ashok Jaipuria, Chairman and MD of Cosmo Films said he expects Q2 to be better than H1FY21.
Cosmo Films stock has been buzzing in the trade as it is up almost 240 percent for the year and up 20 percent this week.
The company had posted an 85 percent year-on-year jump in net profit and a strong EBITDA in Q1FY22 on account of higher specialty sales and higher operating margin.
In an interview with CNBC-TV18, Ashok Jaipuria, Chairman and MD of Cosmo Films said he expects Q2 to be better than H1FY21.
"In Q2, we are seeing trends that will be fairly positive. Our Q2 will be better than H1FY21. Profitability has always been our focus and we will continue on that. On our overall growth, we are expecting a 15-20 percent profit growth in the current year and about Rs 500-700 crore revenue growth in the next three years," he said.
Jaipuria said that a treasury of about Rs 350-400 crore and has sufficient cash and that is why it has committed capex on its polyester film line, which will be commissioned around April 2022.
“We are also looking at expanding further our film capacity, which we will inform as soon as the board takes it up," he added.
Watch the video for more.
(Edited by : Kanishka Sarkar)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Supreme Court refuses plea seeking 6-year poll ban on PM
May 14, 2024 7:14 PM
Punjab Lok Sabha elections 2024: A look at BJP candidates
May 14, 2024 7:06 PM
Lok Sabha polls: EC disposes of 90% complaints related to MCC violations
May 14, 2024 4:45 PM
Jharkhand Lok Sabha elections 2024: All about INDIA bloc candidates
May 14, 2024 2:52 PM