Gokaldas Exports registers 19 percent growth in Q2 net profit to Rs 28 crore

Apparel manufacturer Gokaldas Exports Ltd registered a growth of 19 percent in net profit to 28 crore ($3.3 million) for the second quarter ended September 30, as against Rs 24 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 85 percent to Rs 942 crore, as against Rs 509 crore in the corresponding quarter of the previous financial year.

Commenting on the Q2 results, Sivaramakrishnan Ganapathi, vice chairman managing director of Gokaldas Exports in a statement said, “We reported healthy growth in total income both in the quarter and half year indicating a sustained growth momentum. The majority of the growth during the quarter was contributed by Gokaldas Exports excluding Atraco & Matrix, as it is a seasonally lean period for both the acquired entities.”

“We expect better volume pick up in both the acquired entities in upcoming quarters with sustained stable performance of the company going forward,” he added.

Founded in 1985, Gokaldas Exports is the largest manufacturer and exporter of apparels with over 23 garment production factories in India.