Business News | Axita Cotton Limited Achieves Record-breaking Revenue and Profit in FY2023-2024, Declares 10% Dividend

NewsVoir

Ahmedabad (Gujarat) [India], April 25: Axita Cotton Limited's Revenue skyrocketed to a staggering Rs. 1104 Crore, a remarkable 100.89% Y-o-Y increased as compared to Rs. 549.83 Crore. This impressive feat underscore Axita Cotton's commitment to exceeding expectations and delivering exceptional value.

Also Read | Lok Sabha Elections 2024: Election Commission Sends Notice to Congress Over Poll Code Violation by Rahul Gandhi, Seeks Reply by April 29.

* Yearly Net Profit at Rs. 20.58 crore in Year 2023-2024 up 20.49% from Rs. 17.08 crore in Year 2022-2023.

* EBITDA stands at Rs. 29.36 crore in Year 2023-2024 up 20.27% from Rs. 24.41 crore in Year 2022-2023.

Also Read | Pakistan vs New Zealand Live Streaming Online on FanCode, 4th T20I 2024: How To Watch PAK vs NZ Cricket Match Free Live Telecast on TV?.

Commenting on the results, Nitinbhai Govindbhai Patel, Chairman, Axita Cotton Limited said, "We're delighted to report surpassing a significant revenue milestone of Rs. 1104.38 in FY2024. This success is a result of our team's exceptional execution and the growing adoption of Technologies. Looking ahead, our unwavering commitment lies in seamlessly integrating our acquisitions, meticulously following our strategic roadmap, and fostering sustainable, profitable revenue growth."

In an affirmative move and a robust financial gesture that has resonated well with the market, Axita Cotton Limited. has announced a 10% dividend for FY2023-2024, a decision that has been perceived as a shining indicator of the company's financial health.

The announcement of the dividend has been perceived positively by the market, as it underscores the company's strong sales growth and profitability. It is not merely a distribution of profits but also a reinforcement of the company's potential for sustained growth and profitability in the future.

Highlights of FY:2023-2024

For more information, please visit www.axitacotton.com.

(ADVERTORIAL DISCLAIMER: The above press release has been provided by NewsVoir. ANI will not be responsible in any way for the content of the same)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)