Corporate Update | Garment

Kitex Garments Reports Loss In Q3 Is Down By 67%

Published: February 21, 2023

Kitex shares have been going low since the past 52 weeks. The company reported a bad performance during December 2022.

Kitex faced a loss of Rs.4.23 crore from October to December 2022. A net profit of Rs.34.69 crore profit was for the company. In September 2022, the net profit gained was Rs.34.69 crore.Kitex garments also reported 67% year-on-year decline in the 3rd quarter of the current fiscal. The revenue gained is Rs.202.91 crore in the current quarter. The revenue declined by 52% on a sequential basis.

Till now, Kitex garments reported a 33% fall for a period of 9 months till December 31st 2022. Also, the company had a net profit of Rs.80.92 crore in the same fiscal. During the under review period, the operations declined by 14%, that is Rs.459.29 crore.

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