Published
Dec 11, 2017
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Dollar Industries post strong Q2 results, profit up 30%

Published
Dec 11, 2017

Dollar Industries Ltd posted strong results for the second quarter ended September fuelled by low material and operational costs. The company profits soared 31 percent to Rs 15 crore (approx $2.3 million) from Rs 11 crore (approx $1.7 million) it had posted in the previous quarter last fiscal.
 

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The sales revenue for the quarter also rose 8 percent to Rs 213 crore (approx $33.1) as against Rs 197 crore (approx $30.7 million) during the previous quarter ended September 2016, the company said in a statement.
 
Dollar Ltd had reported a turnover of Rs 906 core (approx $136 million) for the financial year 2016 to 2017. With expansion of its product portfolio and retail expansion the company is looking to hit the Rs 1000 crore mark (approx $150 million) for the current financial year.

The company is expecting a surge in its export revenue as it recently started operations in Nigeria, besides scaling up operations in existing foreign markets in the Gulf, Middle and Nepal. It is also rapidly scaling up its retail presence in the country with focus on tier 2, tier 3 markets for growth.
 
Dollar recently signed a joint venture (JV) with Pepe Jeans London to manufacture and market premium range of fashion innerwear, loungewear, gymwear, and sleepwear and track suits in India. The JV is likely to help the company diversify its product range and tap into the growing premium innerwear segment market in India.
 
Dollar Industries Ltd is one of India’s leading players in the innerwear segment with 850 distributers and 80000 multi brand outlets offering products in innerwear, sleepwear, lounge wear, active wear and sportswear.
 
It has four manufacturing units in Kolkata, Tirupur (TN), Delhi, Ludhiana and holds 15 percent market share in the branded hosiery segment in the country.

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