Globale Tessile Reports 94% Revenue Decline but Triples Net Profit in Q1
Globale Tessile Limited, a Gujarat-based textile company, reported a 94.44% year-on-year decline in total income from operations, falling to ₹104.17 lakhs from ₹1,873.78 lakhs. However, net profit after tax increased by 178.87% to ₹36.17 lakhs, up from ₹12.97 lakhs in the same quarter last year. Earnings per share rose to ₹0.34 from ₹0.14. The company's equity share capital remained stable at ₹1,062.03 lakhs. Net profit before tax decreased to ₹4.68 lakhs from ₹51.57 lakhs, suggesting the improved after-tax profit may be partly due to tax-related factors.