Ashapura Fashions Q4 net profit soars to 8.4 cr

Ashapura Fashion for the fourth quarter reported net profit of Rs 8.4 crore against Rs 2.4 crore. During the period under review, the company's total income stood at Rs 77 crores against Rs 95.4 crores on a year-on-year basis.

A leading manufacturer of intimate and loungewear under Valentine brand, the company has chalked out a retail expansion strategy. Ashapura aims to open 200 Valentine loungewear retail store across India over the next three years through franchises.

These showrooms sell intimate garments such as loungewear, bridal nightwear, honeymoon sets, bathrobes, nightwear, sportswear, legging, camisole, and bra & panties. The new loungewear range is meant for men, women, kids and toddlers. To cater to the retail expansion plan, the company is also in the process of acquiring 2.25 lakh sq. ft. land in Gujarat for the setting up of another state of the art manufacturing plant. It owns a production unit in Thane, Mumbai.

The company that also exports to the Middle East and has export orders worth Rs 65 crores booked for this year plans to explore other countries. It has been witnessing a growth of 30 percent per annum.