The Kochi-based garment manufacturer and exporter Kitex Garments reported net profit of Rs. 27.15 crore on sales worth Rs. 120 crore for the July-September quarter, registering growth of 40.52% Y-O-Y and 70% Q-O-Q. The company reported net profit of Rs. 19.3 crore on sales worth Rs. 121 crore in the corresponding quarter last fiscal. The company reported stronger than expected earnings for the July-September quarter on lower material cost. For six months ended September 30, 2015, Kitex’s standalone net profit is at Rs. 43.12 crore, up 27.76% Y-O-Y.
The company very recently opened its overseas office in Montvale to target US. Mostly into infant wear, the company works with giants like Wal-Mart and JCPenney.
