Garden Silk Mills Limited, a leader in Indian textile industry, has reported a sharp decline in its sales from operations to ₹127.24 crore during first quarter (Q1) FY20 that ended on June 30, 2020, compared to sales of ₹810.68 crore in the same period previous fiscal. Company incurred a total loss of ₹83.32 crore (Q1 FY19: ₹37.07 crore).
Garden Silk Mills Limited, a leader in Indian textile industry, has reported a sharp decline in its sales from operations to ₹127.24 crore during first quarter (Q1) FY20 that ended on June 30, 2020, compared to sales of ₹810.68 crore in the same period previous fiscal. Company incurred a total loss of ₹83.32 crore (Q1 FY19: ₹37.07 crore).#
During Q1 FY20, company’s loss before tax was ₹86.76 (₹35.76 crore). The results were adversely impacted by the lockdown imposed due to Covid-19. However, manufacturing operations gradually resumed with requisite precautions during the quarter with limited availability of workforce and disrupted supply chain.
Garden Silk Mills Limited, a leader in Indian textile industry, has reported a sharp decline in its sales from operations to ₹127.24 crore during first quarter (Q1) FY20 that ended on June 30, 2020, compared to sales of ₹810.68 crore in the same period previous fiscal. Company incurred a total loss of ₹83.32 crore (Q1 FY19: ₹37.07 crore).#
Geographically, Garden Silk Mills’ sales within India slipped to ₹82.58 crore (₹644.85 crore). Wheras, outside India, sales dropped to ₹44.66 crore (₹52.13 crore).
Fibre2Fashion News Desk (JL)
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