A key player in the Indian textile industry, Globe Textiles (India showcased steady revenue growth, improved operational efficiencies and enhanced investor transparency in H1, FY24 ending Sep 30, 2024.
The company’s revenue from operations during the period increased by 8.32 per cent to Rs 25,431.91 lakh from Rs 23,478.67 lakhs recorded during the same period the previous year. This growth was driven by a strong market demand and an increase in operational capacity, illustrating the company’s ability to expand its market share in a competitive environment.
Other income by the company also rose to Rs 36.20 lakh from Rs 31.53 lakh in the prior year, contributing positively to overall earnings. Its total income, combining revenue from operations and other income, expanded to Rs 25,468.11 lakh from Rs 23,510.20 lakh, indicating healthy top-line growth.
Profit before tax by the company rose significantly by 65.1 per cent to Rs 585.43 lakh from Rs 354.48 lakh in the corresponding period of the previous fiscal.Its profit after tax expanded by 75.8 per cent to Rs 493.83 lakh, emphasising the company’s strategic cost management and operational efficiency.
