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India's garment exporters report mixed results in Q3 FY24

Gokaldas Exports
Leading Indian manufacturer and exporter of apparel Gokaldas Exports witnessed growth in revenue from &#****;*,***.* million in Q* FY** to &#****;*,*** million (approximately $**.* million) in Q* FY**. Total income also rose from &#****;*,***.* million to &#****;*,***.* million. There was a slight drop in net profit, down from &#****;***.* million to &#****;***.* million, and EPS decreased from &#****;*.** to &#****;*.**. Operational margin (OPM) increased marginally from **.** per cent to **.** per cent, while the net profit margin (NPM) saw a small decline from *.** per cent to *.** per cent.

Alok Industries Ltd
Major Indian garment manufacturing and export company Alok Industries reported a downturn in its quarterly financials, with revenue dropping significantly from &#****;**,***.* million in December **** (Q* FY**) to &#****;**,*** million (approximately $***.* million) in the same month a year later. The total income saw a similar decline to &#****;**,***.* million, down from &#****;**,***.* million. However, the company managed to narrow its losses, with net profit improving marginally to a loss of &#****;*,*** million from a loss of &#****;*,***.* million the previous year. This was reflected in the EPS, which improved slightly from minus &#****;*.** to minus &#****;*.**. Operational efficiency saw a positive shift, with the OPM moving from minus *.** per cent to *.** per cent, though the NPM worsened from minus **.** per cent to minus **.** per cent.