S P Apparels Q2 net profit declines to Rs 23 crore

By

Maverick Martins

Published
Nov 1, 2022

Tirupur-based S P Apparels Ltd, manufacturers and exporters of knitted garments for children reported a consolidated net profit of Rs 23 crore ($2.8 million) for the second quarter ended September 2022, as against Rs 23.24 crore during the previous quarter ended September 2021.

The company’s revenue for the quarter rose by 38 percent to Rs 306 crore, as against Rs 222 crore it reported in the corresponding period of the previous fiscal year.

For the first half of the current financial year, the company’s total income stood at Rs 567 crore while its net profit was at Rs 48 crore.

S P Apparels currently operates 21 manufacturing facilities in Tamil Nadu. The company exports millions of knitted garments for infants and children annually directly to international customers, including Tesco, Primark among many others.

It owns the women’s wear brand, Natalia and also has the exclusive right to manufacture, distribute and market products under the ‘Crocodile’ brand in India.