The financial results for the third quarter and nine months ended 31st December 2024, have been released by Globe Textiles, a prominent player in the textile industry. The company’s remarkable revenue and net profit growth is indicative of a successful business plan and well-functioning operations.
Revenue for the quarter that ended on 31st December 2024, increased by 46.2 percent to Rs. 15,159.21 lakh (US $ 18.35 million) from Rs. 10,367.19 lakh (US $ 12.58 million) during the same period the year before. Compared to the same period last year, net profit climbed by 53.7 percent to Rs. 291.42 lakh (US $ 354,000) from Rs. 189.55 lakh (US $ 228,000).
Revenue increased by 20.8 percent to Rs. 42,397.79 lakh (US $ 51.51 million) during the nine months that ended 31st December 2024, from Rs. 35,095.74 lakh (US $ 42.44 million) the year before. A noteworthy 56.6 percent increase in net profit to Rs. 943.55 lakh (US $ 1.14 million) demonstrated the company’s ongoing growing pace.
Strategic efforts, rising demand, enhanced operational efficiency, and focused market expansion are all factors contributing to Globe Textiles’ consistent performance. Significant volume growth, efficient cost optimisation, and a clearly defined product mix all contribute to the increase in profitability.
In order to keep up with changing market trends, the company’s Growing Nevo business plans to increase its capacity for fashion-based tops. In order to increase value for both current and future markets, Globe Textiles is also concentrating on technology transfer and partnerships. By utilising these tactics, the business maintains long-term sustainable growth while adjusting to shifting market conditions.
