Category: General
Country: India
Region: Asia
Dollar Industries Ltd witnessed a 90 percent decline in net profit to Rs 4 crore ($4,83,690) for the fourth quarter ended March 2023, as against Rs 37 crore reported in the same quarter last year.
By Maverick Martins
May 31, 2023.
The company’s sales for the quarter rose by 9 percent to Rs 406 crore, as against Rs 373 crore in the corresponding period of the previous fiscal year.
Commenting on the results, Vinod Kumar Gupta, managing director of Dollar Industries Limited in a statement said, “Financial year 23 was very challenging, where we saw huge volatility in raw material prices. High-cost inventory coupled with cyclical slowdown impacted our margins. However, we expect FY24 to be good with increasing demand for the products and controlled raw material prices will help us to maintain our margins.”
“We would continue to focus on increasing our distribution network, strengthening the product portfolio and keeping our supply chain robust”, added Gupta.
During the last fiscal, the company opened 14 exclusive brand outlets across the country to cater to the demand of consumers and generate sales for the company.
Kolkata-based Dollar Industries Ltd is one of the leading players in the innerwear and athleisure segment with a strong presence across the country.
Courtesy: Fashionnetwork.com
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