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Textile company GHCL’s profit up by 47%

India-based textile company GHCL has released the financial results for the second quarter of the current financial year.

During the quarter, net revenue of the company increased by 17 percent to Rs. 839 crore as against Rs. 717 crore. Its net profit jumped 47 percent to Rs. 78 crore as compared to Rs. 53 crore last year.

Notably, the home textile business of GHCL improved 11 percent to Rs. 305 crore as against to Rs. 274 crore in the corresponding quarter of last year.

R S Jalan, Managing Director, GHCL said, “The textile segment has shown growth due to a better customer mix and increased operational efficiency. We are positive of achieving profit growth on a long term horizon and aim to continue creating value for our stakeholders.”

Markedly, GHCL’s home textile products are exported to countries like UK, USA, Australia, Canada, Germany and other European Union countries as well.

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