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
| On 14th Jun 2021
Sri Lanka's Export Development Board is concerned over the resolution ...
| On 14th Jun 2021
Pakistan's latest budget aims to reduce the input cost of many...
Apparel exports of Vietnam are expected to increase from $14.96...
Great step towards realising end goal of 'AtmaNirbhar Bharat'
Marry craft and utility
Cannot see the world breaking away from cotton & polyester
Founded by Chini Chouhan, her eponymous brand specialises in women's...
Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...
Danitech was born from the will of a group of technicians to offer the...
Dr Anup Rakshit
The Indian Technical Textile Association (ITTA) is the only association of ...
INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...
INDA, a global association of the nonwoven fabrics industry, has been...
Shalini Sharma & Shweta Pundir Sharma
Six Yard Story
Six Yard Story is a premium artisanal brand with a focus to bring handloom ...
Abhishek Bajaj & Samiksha Bajaj
Samshek is a fashion forward tech brand which combines digital experience...
Sarah Denise Cordery
Sarah Denise Studio
Manchester, England-based Sarah Denise Studio provides relevant fashion...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.