30 May 2023, Mumba
Gokaldas Exports, a textile manufacturer, experienced a 22.5% decline in net profit for the fourth quarter of FY23, totaling ₹47.2 crore compared to ₹60.9 crore in the same quarter of the previous year. However, the company achieved significant full-year net profit growth, rising by 47% to ₹173 crore from ₹117.1 crore in FY22.
Net revenue decreases in the reporting period
While net revenue decreased by 9.8% during the reporting period to ₹530 crore, down from ₹588 crore in Q4 FY22, Gokaldas Exports saw a 24.8% increase in net revenue for the entire fiscal year, reaching ₹2,247.2 crore compared to ₹1,801 crore in FY22.
Gokaldas Exports emphasizes resource utilization optimization and operational excellence for future quarters
The company attributes its performance to the dedicated efforts of its team in a challenging global market. Moving forward, Gokaldas Exports aims to optimize resource utilization and drive operational excellence in the coming quarters. The company also believes that government initiatives, including budget allocation and trade agreements, will play a crucial role in advancing the industry.