Kitex Garments Q2 net profit jumps 64 percent to Rs 37 crore
today Nov 12, 2019
Kitex Garments Ltd’s net profit for the second quarter ended September 2019 rose 64 percent to Rs 37 crore ($5.2 million) as against Rs 22 crore it had reported in the year-ago period.
The company’s sales revenue for the quarter under review rose 14 percent to Rs 207 crore as against Rs 181 crore it had reported in the corresponding quarter the previous fiscal.
Kitex Garments reported earnings per share was at Rs 6 crore for the quarter as compared to Rs 3 crore it had reported in the previous fiscal year.
Kerala-based Kitex Garments, the third-largest infant garment brand in the world at present, is planning to grab the top spot by 2025, by which time its turnover would be around Rs 2,000 crore, as against Rs 650 crore at present.
The company also engages in contract manufacturing for private labels such as Jockey, Carter, Babies R Us, Gerber, and Mothercare.
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