Globe Textiles Ltd. Announces Earnings Results for the Year Ended March 31, 2017
September 29, 2017
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Globe Textiles (India) Ltd. announced earnings results for the year ended March 31, 2017. for the year, the company reported revenue from operation of INR 1,904,248,426 compared to INR 1,825,141,244 a year ago. Other income was INR 15,125,112 compared to INR 7,876,722 a year ago. Total revenue was INR 1,919,373,538 compared to INR 1,833,017,966 a year ago. Profit for the year before Exceptional and extraordinary items and tax was INR 49,527,096 compared to INR 23,811,301 a year ago. Profit for the year before taxation was INR 49,527,096 compared to INR 23,811,301 a year ago. Profit for the year was INR 33,880,052 compared to INR 16,690,675 a year ago. Basic and diluted earnings per share were INR 3.89 compared to INR 1.92 a year ago. Net cash used in operating activities was INR 15,765,838 compared to INR 71,456,200 a year ago. Capital expenditure on fixed assets, including capital advances & CWIP was INR 82,111,550 compared to INR 8,489,545 a year ago.
Globe Textiles (India) Limited is an India-based company, which is engaged in the business of textile trading and manufacturing. The Company caters to both global and domestic markets. Its product categories include jeans and shorts (men and women), printed fabrics, jackets, face masks, t-shirts, denim and non-denim fabrics, shirting fabrics, yarns and home textiles. The Company's printed fabrics include polyester print fabric, chadri voile, cotton prints and cotton dyed. Its shirting fabrics include printed linens, suiting prints and dyed shirting fabrics. The Company's home textiles include bed sheet, comforters, curtains, table linens. It also supplies cotton knitted jersey fabric bed sheets, fitted sheets, pillow covers, and duvet covers and also export to Germany, Israel and other countries. Its brands include AFFORD, INDIGIRL and INDIGEN, INDIGEN X and ORIJEAN. The Company sells its products through online partners, such as Snapdeal, Flipkart, Voonik and Myntra.