Globe Textiles (India) Ltd. has posted an impressive financial performance for the third quarter ending December 31, 2024, with a 53.7% surge in net profit and a 46.2% increase in revenue year-over-year. The company’s strategic acquisitions, market expansion, and focus on sustainability have driven its strong growth momentum.
For Q3 FY24, revenue rose to ₹15,159.21 lakhs from ₹10,367.19 lakhs in the same period last year, while net profit increased to ₹291.42 lakhs from ₹189.55 lakhs. The nine-month revenue stood at ₹42,397.79 lakhs, a 20.8% increase, while net profit grew by 56.6% to ₹943.55 lakhs. A key driver of this success was the acquisition of Globe Denwash, which significantly boosted revenue and profitability. Additionally, the company’s ₹4,504 lakh Rights Issue was oversubscribed, reflecting strong investor confidence in its growth strategy.
Globe Textiles is expanding its capacity in fashion-based tops and leveraging technology transfer to enhance its market reach. Chairman & Managing Director Bhavik Parikh stated, “Our strategic growth, operational efficiency, and market expansion efforts continue to deliver strong financial results. We remain committed to sustainable success and innovation in the textile sector.” Kolkata, a major textile and apparel hub, is expected to benefit from Globe Textiles’ expansion. The city’s growing demand for high-quality fabrics, home textiles, and readymade garments aligns with the company’s diversified product portfolio. With increasing investments in sustainability and innovation, Globe Textiles is well-positioned to cater to both traditional and modern textile markets in Kolkata, strengthening its foothold in the region.