City-based Gokaldas Exports Limited reported a consolidated net profit of ₹40.6 crore in the December-ended quarter, up by 34.8% compared to ₹30.1 crores in the corresponding quarter a year ago.
In the third quarter, the company posted consolidated revenues of ₹528.1 crore, a slight 0.8% improvement compared to ₹524.1 crore in the same period a year ago.
Siva Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports, said, “The third quarter performance demonstrates our continued strength and resilience while the industry is encountering a challenging global macro-economic environment. We are optimistic about the future outlook for the industry.”
He said the government’s emphasis on boosting exports through investment schemes and trade agreements would play a supporting role in driving the industry forward. However, sounding caution, Mr. Ganpathi said, “We will continue to focus on optimal resource utilisation and drive operational excellence in the coming quarters.”
Gokaldas Exports was set up in 1979. It manufactures and exports apparel to more than 50 countries and has an annual turnover of $250 million. Over 3 million garment units are designed in a month at its over 20 production units that deploy over 15,000 sewing machines and 30,000 employees.
Published - February 10, 2023 10:51 pm IST
