Sportking India clocks ~35% yoy growth in revenue at Rs606 crore in Q1FY23; stock dips ~5%

25 Jul 2022 , 03:46 PM

Sportking India Limited, one of India’s leading textile companies announced its Financial Results for the Quarter ended on June 30, 2022.

The company reported a revenue of Rs606 crore in Q1FY23, up by 34.90% yoy against Rs450 crore in the previous corresponding quarter.

Company’s EBITDA for the quarter under review stood at Rs134 crore as compared to Rs125 crore in Q1FY22, up by 7.3% yoy.

During Q1FY23, company reported PAT of Rs83 crore as compared to Rs79 crore, registering a growth of 5.2% yoy.

EBITDA margin for the quarter under review stood at 22.10% as compared to 27.80% in Q1FY22.

During the quarter, the company successfully commissioned a 10 MW Rooftop Solar Power Project for captive consumption.

Mr. Munish Avasthi, Managing Director, commented on the results, saying, “We have entered FY23 with a positive outlook for our business and confidence in our ability to sustainably grow it. Despite inflationary concerns, high commodity prices, and supply chain disruptions, we have delivered a strong performance.

The 10 MW Rooftop Solar Power Project at Bathinda has been successfully commissioned to reduce greenhouse gas emissions and power costs. Our Phase 1 capacity expansion project will be completed on time.”

Sportking India ended at Rs932.10, down by 4.67% against its previous close of Rs977.75 on BSE. In today’s trade it hit a low of Rs928.90.