Incorporated in the year 1983, GHCL Limited is mulling to invest Rs. 67.25 crore in its textile division including yarn and home textiles.
The capex will be used for buying looms and new machinery in yarn division, establishing a windmill project, and increasing processing capacity. The company has established itself as a well-diversified group with an ascertained footprint in chemicals, textiles and consumer products segment over the years.
The manufacturer has also revealed its financial results for the July-September quarter. In the reporting period, the company’s net profit stood at Rs. 90.28 crore, up 79.09 per cent compared to net profit of Rs. 50.41 crore in the same period last year. Its income from operations zoomed 1.85 per cent to Rs. 703.14 crore versus Rs. 690.34 crore in the corresponding period last year. Its home textiles business increased by 7.75 per cent to Rs. 298.47 crore.
Also Read – GHCL to expand its textile business
Commenting on the results, RS Jalan, Managing Director – GHCL averred, “We had a good financial performance during the period on the back of improved efficiency, lower utility costs and better capacity utilization leading to strong growth in the bottom lines for us. We continue to witness strong growth in our home textiles business.”
