Kitex Garments Q2 net profit jumps 181 percent to Rs 37 crore

Kitex Garments Ltd, a manufacturer of kidswear reported a 181 percent surge in net profit to Rs 37 crore ($4.4 million) for the quarter ended September 30, as against Rs 13 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 61 percent to Rs 216 crore, as against Rs 134 crore in the corresponding quarter of the previous fiscal year.

Kitex attributed the financial growth to the ongoing unrest in Bangladesh and expects this growth to continue in the coming quarters.

Commenting on the results, Sabu Jacob, managing director of Kitex Garments in a statement said, “These results underscore the company’s commitment to sustained growth and value creation for stakeholders. The financial performance for the quarter reflects strong growth.”

“Our recent investment in expanded capacities in Telangana strengthens our ability to scale further, positioning us to capture emerging opportunities and deliver robust value to our stakeholders, The Telangana Phase I and II will be operational by 2025 and 2026. With this, the total capacity of Kitex will be increased by $0.5 billion,” he added.

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.