Kitex Garments Ltd Q4 net profit rises 500 percent to Rs 20 crore

Kitex Garments Ltd reported a 500 percent rise in net profit to Rs 20 crore ($2.4 million) for the fourth quarter ended March 31, as against Rs 3 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 77 percent to Rs 173 crore, as against Rs 98 crore in the corresponding quarter of the previous fiscal year.

For the full financial year, the company’s net profit declined marginally to Rs 56 crore from Rs 57 crore in financial year 2023 while revenue rose 11 percent to Rs 617 crore from Rs 557 crore in FY23.

Kitex Garments is one of the leading manufacturers of kid’s apparel and engages in contract manufacturing for private labels such as Jockey, Carter, Babies R Us, Gerber, and Mothercare among others.