Gokaldas Exports, the Bangalore-based apparel exports firm controlled by global private equity giant Blackstone, has reported a net loss of Rs 15 crore for the third quarter of the current fiscal as against a net profit of Rs 17 crore for the corresponding period of last fiscal.
The topline has moved up marginally by nearly 6 per cent to Rs 290 crore as the company faced intense heat as global buying houses slashed and deferred their purchases.
Gokaldas, which exports to global apparel brands such as Nike and Adidas, has noted that even as sales moved up marginally it was not able to trim its expenditure and it registered an increase of around 6 per cent.
In addition to this, the company has lost Rs 20 crore through forex hedgings as against a gain of close to Rs 11 crore during the corresponding quarter.
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