India - Gokaldas Exports Q4 net loss jumps to Rs 51.39 cr
Dated- 22 May , 2012 - India
India’s largest apparel exporter, Bangalore-based Gokaldas Exports, on Monday, announced 142 per cent increase in net loss at Rs 51.39 crore in the fourth quarter ended March 31, 2012 (Q4) as against a net loss of Rs 21.22 crore in Q4 last year.
The company’s net income in Q4 also declined by 8.56 per cent to Rs 275.13 crore as against Rs 300.88 crore in Q4 previous year.
However, in the financial year 2011-12, the company reported consolidated revenue of Rs 1,030 crore with an EBIDTA (earnings before interest, depreciation, taxes and amortisation) of Rs 12 crore, before exchange difference gain/loss and one-time charges, as against a loss of Rs 29.30 crore in the previous year. “This represents a Rs 41 crore swing to profitability at EBITDA level,” said a press release.
The company also explained that the profit before tax has been impacted due to one-time charge of Rs 46.60 crore, on account of the revised estimate of carrying value of old inventory in Q4 FY‘12.