Mafatlal Industries Ltd reported a 183 percent increase in net profit to Rs 33 crore ($4 million) for the fourth quarter ended March 31, as against Rs 12 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 126 percent to Rs 764 crore, as against Rs 338 crore in the corresponding quarter of the previous fiscal year.
For the full financial year 2024, the company reported a revenue of Rs 2,078 crore with a net profit of Rs 99 crore.
Commenting on the results, M B Raghunath, CEO of Mafatlal Industries Ltd in a statement said, “I am pleased to report that our turnaround strategies have translated into a healthy FY24 performance, and we have surpassed our decade-long numbers on key financial metrics. Our execution capabilities and long-standing working relationships with our customers are the cornerstones of our operations.”
“As on May 2024, our running order book stands at approximately Rs 400 crore which will be executed in near future. Looking ahead, we see promising opportunities in multiple segments through large institutional tenders,” he added.
Mafatlal Industries Limited, a flagship company of the Arvind Mafatlal Group has a strong presence in the textile industry with a wide range of products that include suitings, shirts, fabrics, voiles, uniforms, and more.
Copyright © 2024 FashionNetwork.com All rights reserved.
