Suditi Industries Q3 net profit soars 92 percent to Rs 1 crore

By

Maverick Martins

Published
Feb 15, 2019

​​Mumbai-based Suditi Industries witnessed an 11 percent rise in its revenue to Rs 26 crore ($3.7 million) for the third quarter ended December 2018 as against Rs 23 crore it had posted in the corresponding quarter last fiscal.
 

The net profit of the company increased by 92 percent to Rs 1 crore during the October-December period as compared to Rs 50 lakh it had posted in December 2017.
 
During the quarter, Suditi Industries also got into a licensing agreement with NBA which will give it the right to use the logos/emblems/symbols of the NBA on the apparels/garments manufactured by the company.

The company can manufacture apparels/garments and sell them in the Indian market for the next five years.
 
Suditi Industries in a statement also informed that the company’s managing director Pawan Agarwal has relinquished the position while Rajagopal Raja Chinraj, has been re-designated as the chief executive officer.
 
Suditi Industries Limited has a retail presence through two own brands: Riot and Indian Ink. It also is the licensee for celebrity brands of Yuvraj Singh and Anushka Sharma.