K G Denim has reported a sharp rise in standalone net profit for the quarter ended June 2013. During the quarter, the profit of the company went up 77.07 per cent to Rs 36.30 million from Rs 20.50 million in the same quarter last year. Net sales for the quarter declined 87.85 per cent to Rs 139.34 million, compared with Rs 1,147.20 million for the prior year period. Earnings per share for the quarter stood at Rs 1.42, registering 77.50 per cent growth over previous year period.
KG Denim is a premier denim and apparel fabric manufacturer, catering to leading fashion brands and retailers worldwide. The company having an annual turnover of 150 million dollars (Rs 921 crores) has the capacity of producing 24 million meters of denim fabrics.
The company has two wholly owned subsidiaries Trigger Apparels and K G Denim (USA). K G Denim (USA) is yet to commence commercial operations. Trigger Apparels markets Trigger branded garments in the domestic market.
