Alstone Textiles (India) has reported a standalone net profit of Rs. 11.40 crore in the December 2022 quarter. This comes against a net loss of Rs. 0.01 crore in the previous year quarter.
Alstone Textiles is a small-cap company and has a valuation in the market of Rs. 267.71 crore. The company primarily operates in the CDGS sector and deals in cotton, natural silk, ready-to-wear apparel, hosiery, art silk, synthetic fibres and fabrics and mixed fabrics.
The company said that it is making plans to triple its exports to Asia and Europe.
The company reported a jump of 45 per cent in revenue from the previous quarter with a profit jump from Rs.8 crore in the previous quarter to Rs. 11.39 crore in December 2022 quarter, a jump of 40 per cent.
Ramping up production to two times more than the previous quarter and establishing new units to process cotton fabrics are being seen as the reasons for growth in profit.
The company was able to maintain a 13 per cent profit margin in the December 2022 quarter.
