India's Gokaldas Exports' total income rises 7.2% in FY24

The profit before tax (PBT) fell by 19.8 per cent, from ₹1.98 billion in FY23 to ₹1.59 billion in FY24. The profit after tax (PAT) decreased by 24.3 per cent, from ₹1.73 billion in FY23 to ₹1.31 billion in FY24, the company said in a press release.

For the fourth quarter of FY24 (Q4 FY24), Gokaldas Exports reported a total income ₹8.18 billion, a 54 per cent year-on-year (YoY) increase from ₹5.30 billion in Q4 FY23 and a 46 per cent quarter-on-quarter (QoQ) rise from ₹5.59 billion in Q3 FY24. EBITDA for Q4 FY24 stood at ₹900 million, a 17 per cent YoY increase from ₹772 million in Q4 FY23 and a 28 per cent QoQ rise from ₹705 million in Q3 FY24. However, the EBITDA margin for Q4 FY24 was 11 per cent, down 355 basis points YoY from 14.6 per cent in Q4 FY23 and 159 basis points QoQ from 12.6 per cent in Q3 FY24.

PBT for Q4 FY24 was ₹429 million, reflecting a 15 per cent YoY decline from ₹508 million in Q4 FY23 and a 1 per cent QoQ decrease from ₹435 million in Q3 FY24. PAT for Q4 FY24 was ₹443 million, a 6 per cent YoY decrease from ₹47.2 million in Q4 FY23 but a substantial 46 per cent QoQ increase from ₹304 million in Q3 FY24.

“Our performance on a like-to-like basis, i.e. financial results excluding the recently acquired entities, reflects a strong performance. We overcame pricing pressure, one-time acquisition cost, increased statutory minimum wages and one-time startup cost at our new unit to deliver a strong EBITDA. The acquisition of the two companies and capacity addition aligns with our aim to integrate, diversify, and grow, while focusing on improving margins,” said Sivaramakrishnan Ganapathi, vice chairman and managing director of Gokaldas Exports.

Fibre2Fashion News Desk (DP)