Denim fabric and garment maker Ashima Ltd posted Rs 1.42 crore profit for the first quarter of FY 23 as against loss of Rs 9.15 crore in the same period of FY 22.
The Ahmedabad-based company’s revenue from operations increased by 243.28% from Rs 25.85 crore to Rs 62.89 crore. The company’s sales were hit by the second wave of Covid-19 during the first quarter of the previous financial year. In the current fiscal, sales started improving which reflected the company’s balance sheet.
Ashima’s depreciation and amortisation expenses increased by 25% from Rs 82 lakh to Rs 1.03 crore on y-o-y basis.