Dollar Industries Ltd reported a significant rise in net profit to Rs 33 crore ($4 million) in the quarter ended March 31, as compared to Rs 55 lakh in the year-ago quarter.
The company’s revenue for the quarter rose by 23 percent to Rs 503 crore, as against Rs 407 crore in the corresponding quarter of the previous fiscal year.
For the full financial year 2023-24, its year-on-year net profit increased by 71 percent to Rs 90 crore on a revenue of Rs 1,576 crore.
Commenting on the results, Vinod Kumar Gupta, managing director at Dollar Industries Ltd in a statement said, “We are happy to announce that the company achieved strong all-round growth both in the fourth quarter and in full year FY24. The company remains steadfast in its commitment towards continued growth and success of Project Lakshya, and we have added 61 distributors under this project in FY24. The contribution of Project Lakshya distributors stood at 26.3% in FY24, up from 18.6% in FY23.”
“Our company is experiencing robust demand and an increasing proportion of higher-margin products in our portfolio. This positive trend positions us well to achieve our desired topline and bottom-line growth in the near future,” he added.
Kolkata-based Dollar Industries Ltd is one of the leading players in the innerwear and athleisure segment with a strong presence across the country.
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