Indian textile firm GHCL's revenue rises 96% in Q1 FY23

GHCL’s net profit grew by 300 per cent to ₹339 crore as compared to ₹85 crore in 2022. Its inorganics chemicals division’s revenue grew by 108 per cent to ₹1,096 crore in the first quarter of 2023 as compared to ₹527 crore in 2022. Textiles business revenue grew by 60 per cent to ₹275 crore as compared to ₹172 crore in the first quarter of 2022, GHCL said in a press release.

“In the first quarter of FY23, demand for our products continued to stay strong delivering a Top line growth of 96 per cent, while EBITDA improved by 169 per cent and PAT recorded a growth by 3x. Going forward, we will continue our focus on improving customer experience, operational effectiveness, financial viability and profitability. We are on track with the demerger and are well poised to keep delivering on our commitment to create value for all our stakeholders,” RS Jalan, managing director, GHCL, said.

The company had recently inaugurated its new spinning unit at Manaparai in Madurai district of Tamil Nadu.

Fibre2Fashion News Desk (RR)