India: Garware Marine Industries posts Rs 1.27 mln loss in Q1 2013-14

Company Performance

India: Garware Marine Industries posts Rs 1.27 mln loss in Q1 2013-14

Garware Marine Industries, manufacturer of fishing nets in India, recently announced the financial results for the first quarter of the 2013-14 fiscal year. During the period April-June 2013, the company suffered a net loss of Rs 1.27 million. The company’s profits during the corresponding quarter of the previous year was Rs 2.30 million.

Net sales during the first quarter of this fiscal at Rs 91.58 million, were 17.49% lower than in the corresponding fiscal.

The Company is involved in the manufacture and marketing of fishing nets made from nylon yarn, which are well accepted in the Indian and international markets.