Cosmo Films Limited, a global leader in films for packaging, labelling and lamination applications and synthetic paper, declared its financial results for the fourth quarter of financial year 2018 (Q4 of FY18) ended March 31, 2018. The company achieved the highest-ever quarterly sales volume [up 14 per cent year-on-year (YoY)].

In Rs crore	Q4 FY18	Q4 FY17	FY18	FY17
Net revenue	527.1	469.6	1,966.7	1,696.3
Earnings before interest, taxes, depreciation and amortisation (EBITDA)	43.9	44	167.6	169.2
Profit after tax (PAT)	25.1	27.8	64.4	85.7
Earning per share (EPS) (in Rs)	13.1	14.5	33.6	44.7

This was primarily on the back of near- to full-capacity utilisation of the BOPP line commissioned in February 2017. Commodity film margins remained subdued, negating the favourable impact of volume increase.

For the full year, sales volume grew by 25 per cent, but lower commodity films margins wiped out more than whole of the gains of the volume increase. PAT and EPS dropped further due to higher interest and depreciation of the new BOPP line commissioned last year.

One-time tax reversal due to recent change in the Income Tax Act enabled to partially mitigate the drop in PAT and EPS.

Commenting on the financial performance of the company, Pankaj Poddar, chief exectuive officer, Cosmo Films Ltd, said, “We continue to focus on expanding specialty which has grown by 20 per cent Y-o-Y and full utilisation of capacity.”

“While BOPP film margins continued to be volatile, our continuous focus on improving operational efficiencies helped in maintaining EBIDTA level,” he added.