BSL Limited Q3 net profit rises 56 percent to Rs 4 crore | Maqvi News

Textiles firm BSL Limited reported a 56 percent rise in net profit to Rs 4 crore ($4,81,826) for the third quarter ended December 2023, as against Rs 2.5 crore in the year-ago period.

The company’s revenue for the quarter rose by 58 percent to Rs 171 crore on a year-on-year basis.

Commenting on the results, Nivedan Churiwal, managing director of BSL Limited in a statement said, “Amidst global economic challenges, our company has not only consistently maintained profitability quarter after quarter but has also shown resilience in the face of declining topline growth. This positive trend isn’t solely due to spinning side price increases; rather, it stems from improved capacity utilization for value-added products and a decline in raw material prices.”

“Despite persistent challenges in the yarn business, our house furnishing segment, covering both domestic and global brands, has demonstrated encouraging growth signs, even as the retail market remains subdued post the festive season. Our unwavering focus remains on increasing capacity utilization and expanding market share across key channels,” he added.

BSL Limited runs a vertically integrated unit which integrates spinning, weaving, processing, and manufacturing capabilities. It also sells premium fabrics under the ‘Geoffrey Hammonds’ brand.