Mafatlal Industries Ltd., one of the leading textile companies and flagship entity of the Arvind Mafatlal Group, has reported a robust financial performance in the first quarter (Q1) of the current fiscal year.
The company’s net profit for the April-June quarter registered a significant increase of 73 per cent, reaching Rs. 27 crore compared to Rs. 16 crore in the corresponding period of the previous year.
The impressive growth in net profit was accompanied by a substantial rise in revenue during Q1. Mafatlal Industries recorded a 52 per cent surge in revenue, reaching Rs. 608 crore, as opposed to Rs. 400 crore reported in the same quarter of the previous fiscal year.
The commendable increase in revenue from the textile and other segments played a crucial role in driving the company’s overall growth. Revenue from these segments grew by an impressive 53 per cent year-on-year (Y-o-Y), largely attributed to the successful execution of significant tenders from state governments.
Expressing his satisfaction with the Q1 results, M B Raghunath, CEO of Mafatlal Industries Ltd, stated, “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 a Y-o-Y basis led by large orders from various state governments and remain sustainable path of growth and profitability.
Mafatlal Industries Limited is known for its strong presence in the textile industry, offering a diverse range of products, including suiting, shirts, fabrics, voiles, uniforms, and more. With the successful execution of State Government tenders and a clear focus on strategic growth, the company is poised to further strengthen its position in the industry.
