Active Clothing Co. Limited, a prominent sweater and knitted garment manufacturing company based in Punjab, India, has announced its financial results for the fourth quarter and fiscal year 2023. The company reported a significant increase in net profit for both periods.
For the quarter ended March 2023, Active Clothing recorded a net profit of Rs. 39 lakh (US $ 47,187), marking a substantial rise from Rs. 13 lakh in the same quarter of the previous year. The company’s total income for the quarter also witnessed a notable surge, reaching Rs. 44 crore compared to Rs. 26 crore in the corresponding period of the previous fiscal year.
Looking at the fiscal year 2023 as a whole, Active Clothing achieved remarkable growth in net profit. The company’s net profit for the financial year rose to Rs. 2 crore, a substantial increase from Rs. 52 lakh in the previous year. Additionally, the total income for the fiscal year amounted to Rs. 200 crore, compared to Rs. 115 crore in the financial year 2022.
Active Clothing has set its sights on expanding its production capacity. The company plans to increase its annual production capacity by an additional 1 million sweaters this year. Furthermore, Active Clothing anticipates a further 30 per cent increase in production capacity for the following year.
As one of the leading players in the Indian apparel industry, Active Clothing Co Limited specialises in designing, manufacturing, and distributing sweaters and knitted garments for men, women, and children.
