Kolkata: Knitwear major Rupa & Company Ltd on Wednesday reported a 32 per cent jump in its net profit to Rs 27.2 crore in the first quarter of the current fiscal. The Kolkata-based company said that it recorded a net profit of Rs 20.6 crore in the corresponding quarter of the previous fiscal.
The growth in revenue remained muted with a mere 4 per cent rise to Rs 218 crore during the quarter under review.
It was Rs 209.5 crore in the first quarter of the last financial year, the company said.
“Q1 FY22 started on a positive note despite the second wave of COVID affecting businesses. EBITDA rising by 16 per cent and PAT by 32 per cent was possible due to improved operating efficiencies and cost reduction strategy,” Rupa & Company CEO Dinesh Ke Lodha said.
“The company plans to foray into newer markets with increased penetration in the existing markets. This will help the company to grow faster, and we expect higher than industry growth for the coming year,” he added.
