Kitex Garments has incorporated a new subsidiary ‘Kitex Apparel Parks Limited’ (KAPL).
Focus on wide variety
The subsidiary company is engaged in establishment and carrying on the business of textile items, such as yarn, fabrics, garments, wearing apparels made from natural or synthetic fibres or from blends of both including children’s garments, babywear, infants wear, menswear, ladies wear irrespective of age limit and the like and also to procure all raw material and other auxiliary materials services required for the same.
Profit surge
The company has subscribed to the shares worth Rs 70 crore in KAPL. It is divided into Rs 7 crores shares of Rs 10 each, Kitex Garments said. On a consolidated basis, Kitex Garments posted a 44.4% rise in net profit to Rs 25.72 crore on a 33.7% rise in net sales to Rs 178.09 crore in Q2 FY22 over Q2 FY21.
