Leading textile and apparel conglomerate Sportking India Limited witnessed a 26 percent decline in net profit to Rs 23 crore ($2.8 million) for the fourth quarter ended March 31, as against Rs 31 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 15 percent to Rs 611 crore, as against Rs 534 crore reported in the corresponding quarter of the previous fiscal year.
For the full financial year 2024, the company reported a revenue of Rs 2,377 crore with a net profit of Rs 70 crore.
Commenting on the results, Munish Avasthi, chairman managing director in a statement said, “In a year marked by economic vagaries fuelled by regional conflicts across the globe, it fills me with pride to look back at our performance in the financial year gone by. During the year, both domestic and export markets had their periods of ebbs and flows and thus revenue by geographies have remained largely equal.”
“We firmly believe that there is enough impetus for growth in our sector and we will continue to capitalize on the same. Our outlook for the upcoming financial year remains positive driven by favourable realizations, pickup in demand of export market and policy support from the regulators,” Avasthi added.
Founded in 1989, Sportking India Ltd owns 3 manufacturing facilities in India equipped that produces diversified range of textiles to cater to the demands of weaving and knitting industry.
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