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KITEX records net profit of Rs.18.57 Crore for Q1 2018-19

Chennai, August 2018: KITEX Garments Limited (BSE: 521248 | NSE: KITEX), part of the renowned Anna-Kitex Group of Companies and the largest private sector, today announced a net profit of INR 18.57-cr after taxes for the first quarter of 2018 – 2019 ended June 30, 2018. Kitex had announced PAT of 10.32-cr in the previous quarter ended March 31, 2018.

The consolidated revenue stood at INR 132.26-cr.

The company recorded a PBT of INR 30.16-cr, a jump from INR 11.76-cr in the previous quarter ended March 31, 2018.

Commenting on the results, Mr. Sabu M. Jacob, Chairman & Managing Director, KITEX Garments Limited said, “With a decent revenue growth, we continue to deliver a strong performance as we continue to pursue a calibrated growth strategy.”

The capacity expansion would call for an investment of INR 910-cr in a phased manner. The board had so far given permission to invest INR 641-cr approved earlier out of which INR 25-cr has already been utilized. The funds would be raised through capital subsidy, internal accruals and debt.

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