Kitex Garments registers 181.37% rise in net profit during quarter ended Sep’24
02 November 2024, Mumbai
Delivering remarkable financial results, Kitex Garments recorded a 181.37 per cent rise in net profit to Rs 37.34 crore during the quarter ended Sep ’24 as against a net profit of 13.27 crore in the corresponding quarter last year.
The company’s net sales soared by 61.16 per cent to Rs. 215.88 crore during the quarter from Rs. 133.96 crore net sales recorded in quarter ended Sep’23. This significant rise in revenue highlights the company’s strengthened market position and increased demand for its products.
In addition, Kitex Garments’ EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) rose by 126.81 per cent to Rs. 57.95 crore, up from Rs. 25.55 crore in the quarter ended Sep’23. This increase reflects a stronger core profitability and efficiency within the company’s operations.
The company’s earnings per share (EPS) also grew to Rs. 5.61 from Rs. 2.00 in September 2023. This rise in EPS is a positive sign for shareholders, indicating that the company’s profitability per share has more than doubled year-over-year.
