Gokaldas Exports sales rise 7.6 percent in Q4

Gokaldas Exports (GEX) has reduced its net loss to Rs 11 crores for

the fourth quarter ended March 31, 2013 as against Rs 51 crores reported in the corresponding quarter last year. Its sales income during the quarter increased 7.6 percent to Rs 254 crores as against Rs 236 crores reported in the same quarter last year.

The company has also reduced its operating loss for the fourth quarter to Rs 5.6 crore compared to an operating loss of Rs 53 crores in the year ago period. On a full year basis, the PBT loss stands at Rs 109 crores as against Rs 131 crores in FY12, a 17 percent reduction in loss. Merchandise sales have been flat in FY13 compared to previous year despite difficult conditions in the global markets.

On a macro basis, there has been no improvement in the apparel segment over the past few quarters. Garments exports from India have declined by 8 percent in the first nine months of FY13, driven by a steep 22 percent decline in exports to Europe, the company said in a statement.

Against this backdrop of declining exports, there has been growth in order book particularly in second half of FY-13 resulting in revenue growth in Q4 FY13. However, market challenges continue with retail prices in the global markets showing flat to declining trend for all major brands. In India, inflationary conditions continue to persist, leading to rise in wages and salaries as well as other operational expenses, the statement said.