Indo Count Industries Ltd (ICIL), one of the leading bed linen manufacturers, has witnessed a slight fall in its net profit for the first quarter of the current fiscal.
Total income of the company was Rs. 747 crore in Q1 FY ’24 compared to Rs. 722 crore in Q1 FY ’23 and profit after tax was Rs. 74 crore in Q1 FY ’24 compared to Rs. 77 crore in Q1 FY ’23.
The sales volume for Q1FY ’24 stood at 20.03 million meters compare to 19.10 million meters in Q1 FY ’23. Regarding FY ’24, volume guidance of 85-90 million meters is on track.
Anil Kumar Jain – Executive Chairman said, “We have laid a strong foundation and are optimistic on the future. Going forward, as we capitalise on the demand in our largest market, we expect this to replicate in other geographies. Global economy is improving & the upcoming festive season is expected to fare better. With our capabilities and capacities along with the right product offerings Indo Count is on track to benefit from the growing opportunities in the home textile industry.”
The company claims to be the largest exporter of bed linen with 153 million meters capacity and is strongly of the opinion that operating leverage will play out in the upcoming years.
