Kitex Garments' revenue increased by 69% in the third quarter
05 January 2022, Mumbai:
Kerala's Kitex Garments Ltd., the world's second largest infantwear producer, has also had positive quarterly performance. The firm has provided an update for the quarter ending December 31, 2021, stating that overall revenue for the period was Rs. 205 crore, up from Rs. 121 crore the previous year.
The revenue of the firm climbed by 69%. Furthermore, overall income for the first three quarters of FY21-22 was Rs. 547 crore, compared to Rs. 353 crore the previous year. Revenue increased by 55% in these three quarters.
Notably, Indian clothing has recovered, with exports of $8.22 billion in the first nine months of current fiscal year, up 35% from $8.22 billion in April-December 2020.
With a market capitalization of over Rs. 1,200 crore, the major exporter employs over 5,500 people and collaborates with prominent brands and stores such as Walmart, Target, and Amazon.
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