A leading player in the textile sector, Globe Textiles reported a 53.7 per cent rise in net profit to $351,000 during Q3, FY25 as against $229, 000 in the corresponding period of the previous year. The company’s revenues rose by 46.2 per cent rise to $18.2 million during the quarter, compared to $12.5 million in the corresponding quarter of the previous year.

For 9MFY25 ended December 31, 2024, the company’s revenue increased by 20.8 per cent rise to $51 million from $42.3 million in the previous year. Their net profit increased by 56.6 per cent to $1.1 million during the period, highlighting the company’s sustained growth momentum.

Bhavik Parikh, Chairman and Managing Director, Globe Textiles, states, the company’s onsistent steady performance each quarter reflects its strategy, efficient operations, and continuous drive for growth. The acquisition of Globe Denwash, coupled with a focus on innovation, market expansion, and sustainability, has strengthened the firm’s position as a dynamic force in the textile industry. The company remains committed to delivering long-term value for their stakeholders and seizing new opportunities to enhance profits and ensure sustainable success, he adds.

Globe Textiles' steady performance is attributed to strategic initiatives, increasing demand, improved operational efficiency, and targeted market expansion. The rise in profitability is further supported by significant volume growth, effective cost optimization, and a well-defined product mix.

The company’s Growing Nevo division is set to expand its capacity for fashion-based tops, aligning with evolving market trends. Additionally, Globe Textiles is focusing on technology transfer and collaborations to enhance value for both existing and new markets. By leveraging these strategies, the company continues to adapt to changing industry dynamics while ensuring long-term sustainable growth.