Gokaldas Exports reports 152% jump in revenues

based garments exporter Gokaldas Exports on Friday reported a revenue of Rs 612.7 crore on a consolidated basis for the quarter ended June 2022, up by 152% compared to a Covid-impacted revenue of Rs 243 crore in the corresponding quarter of last year.

The company reported a profit before tax (PBT) of Rs 50.8 crore compared to a loss of Rs.2.6 crore in the same period last year and a PBT Rs 52.4 crore in the Jan-March quarter of the last fiscal year. In the first quarter of this fiscal year, the company considered a share-based compensation charge of Rs 6 crore, excluding which the profit before tax was Rs 56.8 crore.

The company reported a net profit of Rs 39.4 crore in the first quarter and generated an EBITDA of Rs 74.3 crore compared to Rs 19.9 crore in the first quarter of last year.

During the quarter, the company incurred a capital expenditure of Rs 32 crore towards capacity expansion and modernisation.

Company MD Siva Ganapathi said it was excellence in execution of utilization of the capacity optimally in a challenging economic environment that drove the solid revenue and profit growth.

The company will continue to focus on optimal resource utilization and drive operational excellence, he added.