Textile manufacturer BSL Ltd. announced a 22 per cent decrease in net profit for the third quarter ending December 2024, falling to US $ 0.35 million (Rs. 3 crore) from US $ 0.46 million (Rs. 4 crore) in the same period last year. Revenue also saw a slight decline of 1 per cent, reaching approximately US $ 19.6 million (Rs. 170 crore) compared to US $ 19.7 million (Rs. 171 crore) in the corresponding quarter of the previous fiscal year.
According to Nivedan Churiwal, Managing Director of BSL Ltd., the revenue dip is attributed to market-driven pricing adjustments and softened demand for yarn. Despite these challenges, Churiwal emphasised the company’s focus on operational efficiency and cost control. He also highlighted BSL’s strategy of diversifying its premium product line and expanding its international presence.
Churiwal also said that the company is strategically focused towards making their yarn offerings more ‘value-enhanced’ and also expand the production capacity of their fabric production.
BSL Ltd. operates a vertically integrated manufacturing unit encompassing spinning, weaving, processing, and manufacturing. The company markets its products under the “BSL” brand and also offers premium fabrics under the “Geoffrey Hammonds” label.
