Textiles maker BSL Ltd reported a 33 percent decline in net profit to Rs 2.5 crore ($3,00,226) for the fourth quarter ended March 31, as against Rs 4 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 32 percent to Rs 156 crore, as against Rs 119 crore in the corresponding quarter of the previous fiscal year.
For the financial year 2024, the company’s net profit stood at Rs 11 crore on a revenue of Rs 667 crore.
Commenting on the results, Nivedan Churiwal, managing director of BSL Limited in a statement said, “BSL Limited has shown strong resilience despite tough times in the world economy. We know things are uncertain, especially with escalating war, fuel, and logistics costs, as well as cotton prices fluctuating due to factors like interest rates and other market changes. But, despite these challenges, we are pleased to report that our sales keep increasing every year.”
“We are working all around in terms of capacity utilization and marketing to make every part of our business even better, especially when it comes to making profits and meeting demand in domestic and export markets. Also, we see signs of demand picking up, which bodes well for our future growth,” he added.
BSL Limited runs a vertically integrated unit which integrates spinning, weaving, processing, and manufacturing capabilities. Apart from ‘BSL’, the company also sells premium fabrics under the ‘Geoffrey Hammonds’ brand.
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