02 May 2022, Mumbai:
Sustaining its growth momentum, private equity-backed Gokaldas Exports reported a 58 percent jump in revenues and 280 percent jump in net profit, on a quarter-on-quarter basis, in its January-March 2022 quarter.
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The Bengaluru-headquartered company reported Rs 588 crore in revenues and Rs 61 crore in net profit during the quarter. For the full fiscal year of 2021-22, the company recorded Rs 1,801 crore in revenues and Rs 117 crore in net profit.
Siva Ganapathi, Managing Director, Gokaldas Exports says, the company is currently in the growth phase of its journey and the increase in demand post-pandemic had been beneficial to the company.
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It has been recording profits quarter-on-quarter, driving its vision of being a globally reputed apparel manufacturer, he adds.
“'People Power' has been the company’s biggest force that steered innovation, quality, consistency, and commitment in this financial year. As a leading manufacturer and exporter of apparel, it would continuously strive to achieve sustainable growth,” Ganapathiadds.
During the year 2021-22, the company reduced its gross borrowings by Rs 302 crore to Rs. 63 crore.
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