Kitex Garments shares witnessed a surge of over 4% after the company reported robust quarterly results for the fourth quarter. The strong financial performance drove investor enthusiasm, reflected in the stock’s upward movement.
The company’s consolidated net sales soared by an impressive 77.11%, reaching Rs 173.05 crore in March 2024, up from Rs 97.71 crore in the corresponding period last year.
Kitex Garments’ net profit witnessed a remarkable 499.1% increase, surging to Rs 20.13 crore in March 2024 from Rs 3.36 crore in March 2023.
The company’s EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) stood at Rs 37.75 crore in March 2024, a staggering 255.13% rise compared to Rs 10.63 crore in the same period last year.
Furthermore, Kitex Garments’ Earnings Per Share (EPS) saw a significant boost, increasing to Rs 3.03 in March 2024 from Rs 0.45 in March 2023.
Reflecting the positive sentiment, as of 10:50 AM, the company’s shares were trading 4.42% higher at ₹223.15 on the National Stock Exchange (NSE).
