Axita Cotton Ltd witnessed a 12 percent decline in net profit to Rs 5 crore ($6,00,261) for the fourth quarter ended March 31, as against Rs 6 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 81 percent to Rs 221 crore as against Rs 122 crore during the previous quarter ended March 2023.
For the full financial year 2024, the company reported a net profit of Rs 20 crore with a revenue of Rs 1,102 crore.
Commenting on the results, Nitinbhai Govindbhai Patel, chairman of Axita Cotton Limited in a statement said, “We’re delighted to report surpassing a significant revenue milestone of Rs 1,104 in FY2024. This success is a result of our team’s exceptional execution and the growing adoption of technologies.”
“Looking ahead, our unwavering commitment lies in seamlessly integrating our acquisitions, meticulously following our strategic roadmap, and fostering sustainable, profitable revenue growth,” he added.
The Gujarat-based Axita Cotton Limited is engaged in the business of manufacturing and trading of cotton.
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