GHCL Textiles Ltd Q2 net profit rises 8 percent to Rs 155 crore

GHCL Textiles Ltd, a manufacturer and supplier of textiles reported an 8 percent increase in net profit to Rs 155 crore ($18.5 million) for the third quarter ended September 30, as against Rs 142 crore in the corresponding quarter of the previous fiscal year.

The company’s revenue for the quarter declined marginally by 2 percent to Rs 793 crore, as against Rs 806 crore in the corresponding quarter of the previous fiscal year.

GHCL attributed the decline in revenue to lower volumes on account of annual plant maintenance activities. The company expects the production volume to normalise in the coming quarter post completion of maintenance work.

Commenting on the results, R S Jalan, managing director of GHCL in a statement said, “With a robust balance sheet, we have committed over Rs 1,000 crores in investments, of which Rs 350 crore have already been deployed. Our expansion includes adding 25,000 spindles with a capital outlay of Rs 215 crore.”

“We want to provide ready to cut fabric to our end customers. Driven by operational excellence and strong customer relationships, our consistent performance positions us advantageously. These initiatives will further broaden our product portfolio, enhance margins, and boost returns for our shareholders,” he added.

GHCL Textiles is a leading textile player that tailor-makes products to suit specific applications and services premium buyers in domestic and international markets.