Kitex Garments Q2 FY19 revenue grows by 20%

Kitex Garments Q2 FY19 revenue grows by 20%

and H1FY19 revenue grows by 11%

Kitex Garments Q2 FY19 revenue grows by 20%, and H1FY19 revenue grows by 11%

For the Half Year ended September 30, 2018 (H1 FY19):

Total Revenue stood at Rs. 313 crore, y-o-y growth of 11.08%

EBITDA of Rs. 86 crore; y-o-y growth of 5.4%

PAT stood at Rs. 44.7 crore; y-o-y growth of 6.22%

Basic EPS for H1FY19 stood at Rs. 6.72, as compared to Rs. 6.33 for H1FY18

KITEX Garments Ltd., world’s leading manufacturer and exporter of Infant Garments, reported a growth of Rs. 181 crore for Q2FY19, an increase of 20 % from Rs. 151 crore in the same period last year.

KITEX Garments Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q2FY19 stood at Rs. 49 crore, up by 8%.

Net Profit is at Rs. 26.15 crore for Q2FY19, as compared to Rs. 24.12 crore in the same period last year.

Basic Earnings per share (EPS) for Q2FY19 stood at Rs. 3.93, as compared with Rs. 3.63 for Q2FY18.

Total Revenue for H1FY19 stood at Rs. 313 crore, as compared to Rs. 282 crore during H1FY18, a growth of 11.1 %. EBITDA in H1FY19 stood at Rs. 86.12 crore with as compared to Rs. 31.68 crore during H1FY18.

Net Profit is at Rs. 44.7 crore for H1FY19, as compared to Rs. 42.08 crore in H1FY18.

For H1FY19, Basic EPS stood at Rs. 6.72 as against Rs. 6.33 in H1FY18.

Commenting on the financial performance Sabu M Jacob, MD and CEO, said “The growth for the second quarter is as per our expectation. We are happy that we are able to achieve what we have projected earlier”.

About KITEX Garments

Established in 1992, as part of the renowned Anna-Kitex group of companies, Kitex Garments Ltd is today, the world's third largest manufacturer of children's apparel.  Kitex manufactures clothing for the age group that ranges from infants up to 24 months, primarily targeting the US market. Kitex has been a leading supplier to the best-known global brands of infant wear. Globally established brands like Mothercare, Babies R Us, Gerber, Jockey and Carter's source their goods from Kitex while retail giants like Wal-Mart and JC Penney source kids wear from them