Visagar Polytex Limited, a Mumbai-based firm involved in manufacturing, retail and trading of women’s ethnic wear noted a 26.26% surge in its net profit in the first quarter of FY16. The company’s revenues stood at Rs. 22.33 crore, up 20.12% against Rs. 18.59 crore in the same quarter last year.
Additionally, the company which at present has 13 stores in Rajasthan, West Bengal and Gujarat, is also planning to expand. Tilokchand Kothari CMD, Visagar Polytex Ltd said, “We have huge expansion plan ahead and aim to increase our retail store footprints to Madhya Pradesh, Gujarat and Maharashtra. We also plan to open about 200 stores in the next three years.”
