Home / Knowledge / News / Textiles / GHCL Q1 FY 19 revenue up 1% to ₹757 crore
GHCL Q1 FY 19 revenue up 1% to ₹757 crore
19
Jul '18
Courtesy: GHCL
Courtesy: GHCL
The net revenue of GHCL, India’s leading chemical and textile company, in the first quarter of fiscal 2019 is has increased marginally by 1 per cent to ₹757 crore as compared to ₹48 crore in the corresponding quarter ended June 30, 2017. EBIDTA for the reported period is posted at ₹152 crore compared to ₹167 crore in the corresponding quarter previous year.

While, its home textiles business revenue declined by 15 per cent to ₹265 crore in FY19 as compared to ₹311 crore in the corresponding quarter in FY18 primarily due to headwinds.  However, sequentially the revenue has grown by 21 per cent and EBITDA has grown by 43 per cent to ₹18 crore.

For the reported period, the company's net profit (PAT) was registered at ₹62 crore as against ₹ 76 crore (excluding onetime income tax credit of ₹82 crore) of the corresponding quarter in the previous year mainly due to textile performance impacted due to sectoral headwinds. The segment is however now growing sequentially and improvement is likely to continue in the coming quarters.

"We are confident of achieving our vision of +20% profit growth on a long term horizon creating value for our stakeholders. This quarter, we have been able to achieve a satisfactory performance which is in line with our expectations in both the business segments. Our PAT for the current quarter is ₹62 crore as compared to ₹76 crore of Q1FY18. This is primarily due to the impact of headwinds in Home Textiles, which has now started showing signs of improvement when compared to Q4FY18. In Soda Ash, despite Annual shutdown and M2M Forex Impact profitability has been maintained at Q1FY18 levels due to our operational efficiencies. Our outlook for FY19 is positive and we are on track with our expansion plans which are likely to be completed within the stipulated time and cost," RS Jalan, managing director, GHCL said. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 30th May 2020

Iran sees high level of illegal apparel imports

Iran suffers from a high level of illegal apparel imports, with about ...

Pic: ASOS

Fashion | On 30th May 2020

Asos Marketplace sees increase in growth

In the times of lockdown, Asos Marketplace has witnessed strong...

Pic: Otrium

E-commerce | On 30th May 2020

Otrium raises €24 mn to extend fashion's life cycle

Otrium, an online fashion marketplace that helps global and...

Interviews View All

Textile industry, Head honchos

Textile industry
Head honchos

GenNext is slowly but surely adapting to global trends and practices

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Wolfgang Muller,

Wolfgang Muller

Mayer & Cie is a leading global manufacturer of circular knitting...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kevin Nelson, TissueGen

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Aneeth Arora, Péro

Aneeth Arora
Péro

The Woolmark Company has partnered with handmade fashion label Péro and...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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

Leave your Comments


May 2020

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


Advanced Search