Kitex Garments, Kerela-based kidswear manufacturing company, has recorded a rise of 13.78 per cent in its net profit in the fiscal 2015-16, as per its recently released financial report.
The report revealed that its net profit rose Rs 112.09 crore in the fiscal 2015-16, as compared to Rs 98.51 crore last fiscal 2014-15. Net sales stood at Rs 545.81 crore during this period, as compared to Rs 511.09 crore in the previous year, which accounts for a rise by 6.79 per cent. The garment division also reported sales of Rs 476.07 crore in the year ended March 31, 2016, which has risen above its last fiscal’s sales record of Rs 446.01 crore.
Additionally, the board of directors also recommended for a dividend of Rs 0.75 per share of face value Rs 1.
Also Read – Kitex Garments notes net profit of Rs. 27.15 crore in Q2
Kitex Garments is part of the renowned Anna-Kitex group of companies. Located near Kochi, the company caters to prominent and renowned conglomerates in the US and Europe. The company is currently the second largest producer of children’s apparel in the world, and has now in set up operations in its overseas office in Montvale to target US consumers.
