Category: General
Country: India
Region: South Asia
By Maverick Martins
Aug 3, 2023.
Mafatlal Industries Ltd reported a 73 percent rise in net profit to Rs 27 crore ($3.3 million) for the April-June quarter, as against Rs 16 crore posted in the year-ago period.
The company’s revenue for the quarter rose by 52 percent to Rs 608 crore, as against Rs 400 crore reported in the corresponding period of the previous fiscal year.
Mafatlal’s revenue from the textile and other segments grew by 53 percent year-on-year (YoY) on account of execution of large tenders from state governments which constitutes 71 percent of revenue from operations.
Commenting on the Q1 results, M B Raghunath, CEO of Mafatlal Industries Ltd in a statement said, “I am delighted to share that we have achieved a remarkable milestone by recording a 10 year highest quarterly revenue with a healthy growth on YoY basis led by large orders from various state government.”
“With our unwavering dedication to turnaround the company driven by strategic execution of outsourcing led asset light model, we remain on a sustainable path of growth and profitability,” he added.
Mafatlal Industries Limited is a flagship company of the Arvind Mafatlal Group. It has a strong presence in the textile industry with a wide range of products that include suiting, shirts, fabrics, voiles, uniforms, and more.
Courtesy: FashionNetwork.com
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