21 May 2022, Mumbai:
The Q4 net profit of Kitex Garments increased by 434 percent to Rs 44 crore ($5.7 million) as against a net profit of Rs 8 crore it reported in the year-ago period.
*As per a Fashion Network report, the company’s revenue for the quarter rose by 127 percent to Rs 254 crore, as against Rs 112 crore in the corresponding period of the previous fiscal year.
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For the full financial year, the company’s net profit rose by 130 percent to Rs 125 crore as against Rs 54 crore during the previous year ended March 2021. Kitex’s sales rose by 73 percent to Rs 788 crore during the year, as against Rs 455 crore it posted in the previous year ended March 2021.
RELEVANT NEWS Kitex Garments' revenue increased by 69% in the third quarter
According to Sabu M Jacob, Chairman, and Managing Director, Kitex Garments, says, strong growth access to the infants' garments segment despite the inflationary trends in materials costs helped the company achieve record turnover and higher profits.
Kitex Garments is one of the leading manufacturers of kid’s apparel and engages in contract manufacturing for private labels such as Jockey, Carter, Babies R Us, Gerber, Mothercare, etc.
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CREDITS: *A Fashion Network report.
