Indian apparel exporters are having good orders since past few months and doing reasonably good. Their improving situation is also reflected in the quarter results.
World’s second largest infantwear manufacturer Kitex Garments Ltd., Kerala has also noticed enthusiastic quarterly results.
The company has announced the update for the quarter ended 31 December 2021 and total revenue during the quarter stood at Rs. 205 crore as against Rs. 121 crore in the same quarter for the previous year.
The company’s revenue increased by 69 per cent.
Not only this, the total revenue for the three quarters of FY21-22 was at Rs. 547 crore as against Rs. 353 crore in the same period last year. In these three quarters, revenue grew by 55 per cent.
Notably, Indian apparel has bounced backed as apparel exports in the first nine months of this fiscal year were 35 per cent higher than US $8.22 billion in April-December 2020.
The leading exporter with a market cap of around Rs. 1,200 crore employs more than 5,500 workers and works with prestigious brands and retailers like Walmart, Target and Amazon.
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