Pearl Global, one of India’s largest garment maufacturers and exporters, said that their first-quarter revenue grew by 33% to Rs 3,757 crore from 2,820 crore owing to strong growth in demand.
The profit though grew by just 6% to Rs. 130 crores from Rs 122 crores due sharp rise in manufacturing costs, employee expenses and “other costs”, the company said.
Manufacturing cost increased due to higher share of traded goods procured from outsourced manufacturing facilities in Bangladesh, added the company.
Manufacturing facilities in India, Bangladesh and Indonesia witnessed strong production.
Focus on diversifying into other geographies like Australia, UK, Germany,Canada, Mexico, Chile, South Africa and expanding capacities in Chennai and Bangalore which is to become fully operational this year is among the company’s priorities, the company added.