Bengaluru-based garment exporter Gokaldas Exports Ltd (GOKEX: BSE/NSE) reported a 398 percent increase in its consolidated profit after tax at Rs 30.11 cr for the third quarter of FY22, ended on December 31, 2021, over Rs 6.05 cr recorded for the corresponding period in FY21.
The company also recorded revenue growth of 95 percent for the quarter ended December 31, 2021, at Rs. 524.06 cr over Rs. 268.07 cr recorded for the same period of FY21. In Q3FY22, the company generated an EBITDA of Rs. 62.77 cr, compared to Rs. 24.09 cr in Q3FY21 and Rs. 53.93 cr in Q2FY22. EBITDA margin improved by 3 percent over the corresponding quarter of the last financial year.
The Company had, earlier in this quarter infused equity capital of Rs. 300 cr, through a QIP in October 2021. This was used to reduce borrowings. The Company has reduced its net debt to Rs. (71.3) cr as compared to Rs. 166.2 cr as of 31 percent March 2021.
Gokaldas Exports continued its focus on service delivery excellence while augmenting its capacity and optimizing resources for better productivity. During the last nine months, the company has incurred a capital expenditure of Rs. 42 cr towards capacity expansion and modernization of its business infrastructure.
