Textiles firm BSL Limited reported a marginal increase in net profit to Rs 2.31 crore ($2,75,142) for the first quarter ended June 30, as against Rs 2.27 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 2 percent to Rs 164 crore, as against Rs 160 crore in the corresponding quarter of the previous year.
Commenting on the results, Nivedan Churiwal, managing director of BSL Limited in a statement said, “BSL Limited has shown resilience amid global economic challenges. Despite uncertainties such as escalating conflicts, rising labour costs, Red Sea issues resulting in increasing logistics costs, and fluctuating cotton prices, we are pleased to report growth in Q1FY25.”
“Looking ahead, we see significant opportunities as the US, EU, and China are set to drive textile consumption in the coming decade. The PLI scheme is set to boost investments in the MMF and technical textile ecosystem, while FTAs with the UK and EU hold enormous potential for increased textile trade,” 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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