Globe Textiles Posts Stellar Q3 Results With 53.7% Profit Surge and 46.2% Revenue Growth

Globe Textiles, a leading player in the textile sector, has announced its financial results for the third quarter and nine months ending December 31, 2024.

- TBG NETWORK

The company reported impressive growth in revenue and net profit, reflecting on its business strategy and operations are working well.

For the quarter ended December 31, 2024, revenue surged by 46.2% to Rs 15,159.21 lakhs, compared to Rs 10,367.19 lakhs in the corresponding period of the previous year. Net profit increased by 53.7% to Rs 291.42 lakhs from Rs 189.55 lakhs in the same period last year.

For the nine months ended December 31, 2024, revenue saw a 20.8% rise to Rs 42,397.79 lakhs from Rs 35,095.74 lakhs in the previous year. Net profit witnessed a significant 56.6% increase to Rs 943.55 lakhs, highlighting the company's sustained growth momentum.

Globe Textiles' Rs4,504 lakh Rights Issue received an overwhelming response, highlighting strong investor confidence in the company's growth and financial strength. The oversubscription reflects trust in its management, strategic vision, and operational expertise.

Funds raised will support business expansion, R&D, and working capital, driving growth through innovative and sustainable solutions in domestic and international markets.