Gokaldas Exports Limited today declared its financial results for the quarter ended September 30, 2023. The Company reported a consolidated revenue of ₹ 509.0 Crore for the quarter compared to ₹ 576.3 Crore in the same quarter last year and a consolidated profit before tax of ₹ 29.3 Crore compared to ₹ 49.0 Crore for the same quarter last year.
Key Highlights:
(Figures in ₹ Crore)
| Parameters | Q2 FY24 | Q1 FY24 | Q2FY23 | YoY | QoQ | H1FY24 | H1FY23 | YoY |
| Total Income | 509.0 | 522.2 | 576.3 | -11.7% | -2.5% | 1031.2 | 1189.0 | -13.3% |
| EBITDA1 | 55.8 | 67.8 | 71.9 | -22.4% | -17.7% | 123.6 | 146.2 | -15.5% |
| EBITDA Margin1 | 11.0% | 13.0% | 12.5% | -151 bps | -202 bps | 12.0% | 12.3% | -31bps |
| Profit before tax2 | 29.3 | 43.2 | 49.0 | -40.1% | -32.1% | 72.5 | 99.8 | -27.4% |
2 excludes exceptional income of ₹ 6.1 Crore for Q2 FY23.
Commenting on the company’s second-quarter performance, Mr. Siva Ganapathi, Vice Chairman and Managing Director of Gokaldas Exports said, “Our performance reflects lean demand from major brands, given that they were carrying excess inventory. We ramped up our labour force in Q2 in preparation for the third quarter, resulting in increased cost. We are expecting improved momentum in the second half of the year as we are seeing growing traction in customer orders. We will stay focused on improving operating parameters and are confident of the medium to long-term prospects of the company.”
