Textile manufacturer BSL Ltd revealed a 33 per cent fall in net profit to Rs. 2.5 crore for the fourth quarter ending 31st March, compared to Rs. 4 crore in the same quarter last year.
The company saw a remarkable boost in revenue, with an increase of 32 per cent to Rs. 156 crore from Rs. 119 crore in the same quarter of the last fiscal year.
For FY 2024, the company accounted a net profit of Rs. 11 crore on income of Rs. 667 crore. Nivedan Churiwal, the MD of BSL Limited, commented on the results, sharing, “BSL Limited has shown significant resilience despite demanding global economic conditions. In spite of the uncertainties like escalating war tensions, growing fuel and logistics costs, and shifting cotton prices influenced by factors like interest rates and market changes, our sales keep on growing annually.”
Churiwal further shared optimism about the company’s future, stating, “We are concentrated on enhancing capacity utilisation and improving our marketing efforts to better every aspect of our business, mainly in terms of profitability and fulfilling the demand in both domestic and export markets. Additionally, we see hopeful signs of demand recovery, which bodes well for our future expansion.”
BSL Limited runs a vertically integrated unit surrounding spinning, processing, weaving, and manufacturing capabilities. Apart from the ‘BSL’ brand, the company also sells quality fabrics under the ‘Geoffrey Hammonds’ label.
