INDIA: High Cotton Prices Hit Gangotri's Profits
Despite an increase in sales for the first quarter of the current financial year, lower than expected cotton yields and a hike in price of the raw material had a negative impact on profitability at garment manufacturer Gangotri Textiles Ltd. Net sales jumped to Rs36.96 crore compared with Rs28.03 crore in the same period last year, and were offset by raw material costs which rose to Rs22.55 crore (Rs16.65 crore). Profit before depreciation, interest and tax fell to Rs4.40 crore (R 4.67 crore), and after tax dropped to Rs62 lakhs (Rs1.58 crore).
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- Trump blows the case for Brexit out of the water
- US apparel retailers' November 2016 sales roundup
- Duty-free trade key to build Africa supply chains
- US Q3 in brief – Destination Maternity, Cherokee
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth
- Esquel efficiency drive continues to boost brands
- Myanmar garment industry "lacking labour rights"