Dollar Industries Q4 net profit jumps 58 percent to Rs 19 crore
Textiles major Dollar Industries Limited posted a 58 percent rise in its net profit to Rs 19 crore ($2.7 million) in the fourth quarter ended March 2021, as against a net profit of Rs 12 crore it had reported in the year-ago period.
The company’s revenue for the quarter grew by 29 percent to Rs 308 crore, as against Rs 237 crore it reported in the corresponding period of the previous year.
For the financial year 2020-21, the company reported a net profit of Rs 87 crore on a revenue of Rs 1040 crore.
Commenting on the results, Vinod Kumar Gupta, managing director of Dollar Industries Ltd, in a statement said: “This year under review has been overshadowed by the coronavirus where the economy is hit but the company reported positive revenue growth. This quarter the raw-material prices stabilised a bit before showing uncertainty in prices again. The company is poised to grow and continue its growth journey.”
During the financial year, the Kolkata-based knitwear manufacturer also revamped its brand identity with the launch of a new logo and campaign, ‘Wear the Change’ to cater to widen its customer base in the country.
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