Gokaldas reduces losses

Gokaldas Exports has reduced its losses by Rs 4.27 crores during Q1 of 2011-12 from

the same period last year. It has done this by focusing on cost management and operational efficiencies. The company reported a net loss of Rs 13.46 crores during Q1 of the current fiscal. Net sales fell 5.44 per cent from same period last year. Net sales during the quarter stood at Rs 233.72 crores registering a fall of five per cent. Gokaldas Exports, based in Bangalore, is a major player in the readymade garment industry. It’s one of India's largest manufacturers and exporters of readymade garments like outerwear, blazers and pants (formal and casual), shorts, shirts, blouses, denim wear, swim wear, active and sports wear.

The company exports its products primarily to the United States, Canada, and Europe. Its subsidiaries include Magenta Trading, Rishkesh Apparels, Rajdin Apparels and Glamourwear Apparels. As of March 31, 2010, Gokaldas had more than 40 factories spread across Bangalore, Chennai, Mysore, Tumkur, Hyderabad and Madanapalle and manufactured around 2.5 million garments per month.