
Kitex Garments witnessed a 434 percent surge in its net profit to Rs 44 crore ($5.7 million) for the fourth quarter ended March 2022, as against a net profit of Rs 8 crore it reported in the year-ago period.
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Kitex Garments witnessed a 434 percent surge in its net profit to Rs 44 crore ($5.7 million) for the fourth quarter ended March 2022, as against a net profit of Rs 8 crore it reported in the year-ago period.
Kitex Garments witnessed a 44 percent rise in its net profit to Rs 26 crore ($3.6 million) for the second quarter ended September 26, as against Rs 18 crore in posted in the year-ago period.
Kitex Group has signed a memorandum of understanding (MoU) with the Telangana state government for setting up two mega projects with a total investment of Rs 2,400 crore ($326 million).
Kerala-based Kitex Garments recently received an invitation to invest in Sri Lanka from the island nation’s deputy high commissioner to Chennai D Venkateshwaran.
Kitex Garments, one of the leading global manufacturers of kid’s apparel, has entered the state of Telangana with an initial investment of Rs 1,000 crore ($134.3 million).
The Government of Kerala’s labour department has withdrawn its show cause notice made to textile giant Kitex over the issue of minimum wages as the business receives offers to invest in other states.
The Karnataka government has formerly reached out to garment and textile business Kitex to offer numerous incentives in a bid to get the business to make its Rs 3,500 crore ($526 million) investment in the state.
The state government of Tamil Nadu has extended a proposal to garment manufacturer and exporter Kitex group to invest in the state’s textile industry.
Kitex Garments witnessed a 53 percent decline in its net profit for the fourth quarter ended March 2021 to Rs 8 crore ($1.1 million), as against a net profit of Rs 18 crore it reported in the year-ago period.
Kitex Garments Limited’s net profit for the third quarter ended December 2020 declined 56 percent to Rs 16 crore ($2.2 million), as against Rs 35 crore it reported in the corresponding period of the previous year.