Dollar Industries Q3 net profit rises 103 percent to Rs 18 crore

Dollar Industries Ltd reported a 103 percent rise in net profit to Rs 18 crore ($2.2 million) for the October-December quarter, as against Rs 9 crore in the year ago period.

The company’s revenue for the quarter rose by 16 percent to Rs 329 crore, as against Rs 285 crore during the previous quarter ended December 2022.

Commenting on the results, Binay Kumar Gupta, and Vinod Kumar Gupta, managing directors of Dollar Industries Limited in a joint statement said, “We are happy to announce that the company achieved strong all-round growth in the quarter gone by. Total income increased by 16.4% year-over-year (YoY) reaching Rs 33,278 Lacs in Q3 FY24. Additionally, the company achieved a notable volume growth of 30.4% YoY.”

“The company remains steadfast in its commitment towards continued growth and success of Project Lakshya, and we have added 9 distributors under this project in Q3 FY24. We are aiming for Project Lakshya distributors to contribute 65-70% of our revenue by FY26, and this will go a long way in increasing our market share and improving margins,” they added.

Kolkata-based Dollar Industries Ltd is one of the leading players in the innerwear and athleisure segment with a strong presence across the country.