Dollar Industries Ltd, posted a 7 per cent year-on-year (YoY) increase in net profit for the second quarter ended 30th September 2024. The company’s net profit rose to US $ 3.2 million compared to US $ 2.96 million in the corresponding quarter of the previous year.
Revenue for the quarter grew by 8 per cent, reaching US $ 52.96 million, up from US $ 48.94 million in the same period last fiscal.
Under its strategic initiative, Project Lakshya, Dollar Industries onboarded 17 new distributors during the April-September period, raising the initiative’s revenue contribution to 31 per cent. The company aims to achieve 65-70 per cent revenue contribution from Project Lakshya by FY ’26.
Commenting on the performance, Managing Directors Vinod Kumar Gupta and Binay Kumar Gupta said, “Our total income for Q2 FY ’25 grew by 8.5 per cent YoY to US $ 53.1 million, while H1 FY ’25 income rose by 5.5 per cent YoY to US $ 92.71 million. Profit after tax for Q2 FY ’25 increased by 6.6 per cent YoY to US $ 3.14 million.”
They also expressed optimism about meeting revenue and profitability targets, driven by strong demand, higher margin products, and ongoing strategic initiatives.
Dollar Industries holds a 15 per cent market share in India’s organised innerwear segment, solidifying its position as a leading brand.
