Kitex Garment’s Q2 profit up Rs 11.98 crores

Announcing its financial results for the second quarter,

Kitex Garments has says its net sales/income from operations was Rs 100.08 crores for the quarter ended September 30, 2013 as against Rs 65.80 crores for the same quarter in 2012. The net profit has gone up to Rs 11.98 crores for the quarter ended September 30, 2013 as against Rs 4.02 crore for the same quarter in 2012.

The company has reported an EPS of Rs 2.52 this quarter compared to Rs 0.85 for the same quarter last year. Net sales/income from operations stands at Rs 200.57 crores for the half-year ended September 30, 2013 as against Rs 129.37 crores for the half-year ended September 30, 2012. The net profit is Rs 24.96 crores as against Rs 11.24 crores for the half-year ended September 30, 2012. It reported an EPS of Rs 5.26 for the half-year as compared to Rs 2.37.

Kitex Garments is a 100 percent export-oriented unit specialising in garments for babies up to 24 months old. Kitex products are now sold through 9,000 outlets in 70 countries, including departmental stores such as Walmart, and Target. With good business growth, the company is aiming to be a leading player in the industry by 2015 with a target business of Rs 1,500 crores.