Home / Knowledge / News / Apparel/Garments / Gokaldas Exports loss widens
Gokaldas Exports loss widens
28
May '11
Higher wage and raw material cost has resulted in Gokaldas Exports increasing its loss by 84 percent to Rs. 265.2 million for the quarter ended March 31, 2011.

This was in spite of the company being able to increase its total sales marginally by 4 percent to Rs. 3012 million during the fourth quarter compared to Rs. 2893 million during the same period in FY2010. The operating loss also fell by 14 percent to Rs. 165.9 million.

The Bangalore-based garment exporter posted a loss of Rs. 880 million during FY11 compared to Rs. 19.3 million in FY10.

Net income of the company decreased marginally to Rs. 11.45 billion in fiscal 2010-11 as against Rs. 11.56 billion in the previous fiscal. The operating loss of the company, however, increased from Rs. 219.4 million in 2009-10 to Rs. 676.2 million in 2010-11.

Besides higher wage and raw material costs, the company has cited the increase in interest costs due to withdrawal of interest subvention by the RBI, fire accident in its facility, and additional air freight cost as the factors that contributed to the loss made by the company.

The company has described the current market position as sluggish, as buyers are reducing their order flow and there is less optimism on the pricing front. It has, however, termed the declining cotton prices as a positive indicator.

The company has good orders in the pipeline for the first half of 2011-12 and is hopeful that its performance will improve in the next few months. The company is expecting more market demand in its area strongholds.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search