One of India’s leading apparel exporters, Gokaldas Exports Limited, reported a consolidated revenue of Rs. 522.2 crore for the quarter ended 30thJune 2023 compared to Rs. 612.7 crore in the same quarter last year. It is down by 14.8 per cent on a year-to-year (YoY) basis and down by 1.5 per cent on a quarter-on-quarter (QoQ) basis.
The company also had a fall in consolidated net profit, as the same was Rs. 32.6 crore in Q1 FY ’24 compared to Rs. 39.4 crore for Q1 FY ’23. It is down by 17.4 per cent on YoY basis and 31 per cent on QoQ basis.
“Our performance endorses the belief in our ability to sustain continued operating performance gains in a sluggish macro-economic environment. While we continue to take measures focusing on customer relationships and service excellence, we are optimistic about revival of the business in H2 and are bullish on the long-term prospects of the company,” said Siva Ganapathi, Vice Chairman and MD of the company.
The company will continue to focus on strengthening customer relationships, optimal resource utilisation and drive operational excellence in the coming quarters.
With 29,000 employees, Gokaldas has 20+ production units, 15000+ advanced machines that produce 3 million garments in a month.
