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Kitex Garments sizzles after PAT zooms 183% Y-o-Y

Capital Market 

Kitex Garments rallied 16.53% to Rs 153.65 after consolidated net profit surged 183.31% to Rs 34.99 crore in Q3 December 2019 (Q3 FY20) as against Rs 12.35 crore reported in Q3 December 2018 (Q3 FY19).

Net sales soared 84.27% year-on-year (Y-o-Y) to Rs 250.86 crore in Q3 FY20. Profit before tax jumped 136.63% to Rs 50.38 crore Y-o-Y. Current tax expenses jumped 57.41% to Rs 14.01 crore during the period under review. The Q3 numbers were disclosed during market hours today, 11 February 2020.

Kitex Garments is engaged in the manufacture of fabric and readymade garments. The company operates through two business segments: garments and fabric. The firm exports cotton garments principally infants wear.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, February 11 2020. 14:54 IST