Shares of Indo Count Industries (ICIL) have hit a 16-month high after the company reported a strong Q4 performance, with profit after tax (PAT) growing 11% YoY and 2.5 times sequentially to INR947m ($12.7m), and revenue jumping 23% YoY to INR8.07bn ($108m). ICIL is one of India’s largest home textile manufacturer and exporters and has a presence in the top nine out of 10 big box retailers in the US. The company’s sales volume (including GHCL unit) grew 16% YoY to 20.4 million metres against 17.6 million metres in Q4FY22, and with greenshoots visible, ICIL has guided for volume of 85-90 million metres in the current fiscal year, up 17% YoY. The company remains positive about the demand scenario in the long run, supported by China+1 strategy and government steps to support the Indian home textile export market. The brokerage firm expects the b/s deleveraging to accelerate even further.
Indo Count Stock Soars 36% in Four Days as Q4 Results Impress, Reaches 16-Month High
Date:
Updated: [falahcoin_post_modified_date]
More like thisRelated
Revolutionary Small Business Exchange Network Connects Sellers and Buyers
Revolutionary SBEN connects small business sellers and buyers, transforming the way businesses are bought and sold in the U.S.
District 1 Commissioner Race Results Delayed by Recounts & Ballot Reviews, US
District 1 Commissioner Race in Orange County faces delays with recounts and ballot reviews. Find out who will come out on top in this close election.
Fed Minutes Hint at Potential Rate Cut in September amid Economic Uncertainty, US
Federal Reserve minutes suggest potential rate cut in September amid economic uncertainty. Find out more about the upcoming policy decisions.
Baltimore Orioles Host First-Ever ‘Faith Night’ with Players Sharing Testimonies, US
Experience the powerful testimonies of Baltimore Orioles players on their first-ever 'Faith Night.' Hear how their faith impacts their lives on and off the field.
