Kitex Garments has reported its Q1 fiscal year results as of 14th August 2024. The company experienced a notable surge in both revenue and profit, with revenue increasing by 30.63 per cent year-over-year (YoY) and profit rising by an amazing 247.6 per cent YoY.
Compared to the last quarter, revenue grew by 10.05 per cent, while profit saw a rise of 35.68 per cent. This robust performance underscores the company’s operational efficiency and effective strategic execution.
The Selling, General & Administrative (SG&A) expenses increased by 3.02 per cent quarter-over-quarter (q-o-q) and increased by 33.21 per cent YoY. Despite these higher expenses, operating income rose by 21.27 per cent q-o-q and an impressive 310.11 per cent YoY.
Over the past week, Kitex Garments has given an 11.98 per cent return, an 11.23 per cent return over the last six months, and a 27.09 per cent return on year-to-date (YTD) basis. These returns highlight the company’s robust market performance and investor confidence. Currently, Kitex Garments has a market capitalisation of Rs. 1904.36 crore.
