Kitex Garments Ltd, world’s second largest manufacturer of infant garments reported a 275 percent rise in net profit to Rs 30 crore ($3.6 million) for the April-June quarter, as against Rs 8 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 32 percent to Rs 195 crore, as against Rs 148 crore in the same period last year primarily driven by strong demand from existing customers.
Commenting on the outlook, Sabu M Jacob, managing director of Kitex in a statement said, “Kitex Garments Limited has begun the new fiscal year by setting the foundation for the best performance in its history.”
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, and Mothercare among others.
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