Gokaldas Exports profit slips in second quarter
Gokaldas Exports has declared its financial results for the quarter ended September 30. The company reported a consolidated revenue of Rs 509 crore for the quarter compared to Rs 576.3 crore in the same quarter last year and a consolidated profit before tax of Rs 29.3 crore compared to Rs 49 crore for the same quarter last year.
The company’s income and profit before tax also fell in the second quarter compared to the first quarter of the fiscal year 20023-24.
The EBITDA margin fell from 13% to 11% and PBT from Rs 43.2 crore to Rs 29.3 crore.
Commenting on the company’s second-quarter performance, the company’s vice chairman & MD Siva Ganapathi said: “Our performance reflects lean demand from major brands, given that they were carrying excess inventory. We ramped up our labour force in Q2 in preparation for the third quarter, resulting in increased cost.
We are expecting improved momentum in the second half of the year as we are seeing growing traction in customer orders.
