Sai Silks Kalamandir Q4 net profit rises 42 percent to Rs 29 crore

Sai Silks Kalamandir Ltd reported a 42 percent increase in net profit to Rs 29 crore ($3.5 million), as against Rs 20 crore in the year-ago quarter.

The company’s revenue for the quarter rose by 11 percent to Rs 360 crore, as against Rs 324 crore in the corresponding quarter of the previous fiscal year.

During January-March quarter, the company’s expenses increased by 12 percent to Rs 305 crore from Rs 273 crore in year ago period.

For the full financial year, Sai Silks reported a net profit of Rs 101 crore with a sales revenue of Rs 1374 crore.

During the year, company opened 6 new stores of Varamahalakshmi format with a total area of 43,896 square feet.

Currently, Sai Silks has 60 stores across the country with a strong presence in south Indian markets of Andhra Pradesh, Telangana, Karnataka, and Tamil Nadu.