BSL sees profits soar despite market challenges

Textiles firm BSL Limited defied global economic headwinds to report a 56 per cent rise in net profit for the third quarter ended December 2023. Net profit reached Rs 4 crore ($4,81,826), up from Rs 2.5 crore in the same period last year. This impressive growth was accompanied by a 58 per cent jump in revenue to Rs 171 crore.

"Our company has not only maintained profitability but also shown resilience in the face of declining topline growth," said Nivedan Churiwal, Managing Director of BSL. He attributed this success to improved capacity utilization for value-added products, a decline in raw material prices, and a focus on their house furnishing segment.

Despite challenges in the yarn business, the house furnishing segment, catering to both domestic and global brands, witnessed encouraging growth even amidst a subdued post-festive retail market. BSL Limited plans to capitalize on this momentum by further increasing capacity utilization and expanding market share across key channels.