India’s top infant wear manufacturer and exporter Kitex Garments’ consolidated sales of Q4, FY ’23 is down 61.46 per cent Y-o-Y as it was at Rs. 97.71 crore in this quarter compared to Rs. 253.55 crore in the similar period of the previous fiscal year.
Similarly, the company’s net profit was Rs. 3.36 crore in Q4 FY 2023 down 92.4 per cent from Rs. 44.20 crore in Q4 FY ’22.
The company’s EBITDA stands at Rs. 10.63 crore in Q4, FY ’23 down 84.53 per cent from Rs. 68.73 crore in Q4 FY ’22.
It can be mentioned here that having aggressive expansion plans in Telangana, the company also had a net loss of Rs. 4.23 crore for the October-December 2022 period. (Q3 FY ’23).
At that time, the company had cited global recession fears as the key reason for the performance but expected this to be temporary phenomenon only up to the end of Q4 2022-23.
Also Read: Kitex Garments will invest more in Telangana
