Gokaldas Exports Ltd reported a 6 percent decline in net profit to Rs 44 crore ($5.3 million) for the fourth quarter ended March 31, as against Rs 47 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 55 percent to Rs 812 crore, as against Rs 523 crore in the corresponding quarter of the previous fiscal year.
For the full financial year 2024, the company reported a net profit of Rs 131 crore on a revenue of Rs 2,379 crore.
Commenting on the results, Sivaramakrishnan Ganapathi, managing director of Gokaldas Exports in a statement said, “Our performance on a like-to-like basis, i.e. financial results excluding the recently acquired entities, reflects a strong performance. The acquisition of the two companies and capacity addition aligns with our aim to integrate, diversify, and grow, while focusing on improving margins.”
“We firmly believe that the strategic intent behind the recent acquisitions will provide a solid foundation for margin growth. We are confident in productivity improvements resulting from geographic diversification, access to new customers, integrating existing customers, leveraging duty arbitrage, and strategic positioning,” he added.
Founded in 1985, Gokaldas Exports is the largest manufacturer and exporter of apparels with over 23 garment production factories in India.
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