Vaxtex Cotfab reports Q3FY22 net sales of Rs 11,38 lakhs

Vaxtex Cotfab, an Indian textile manufacturing company, reported INR 11,38.71 lakhs in net sales for the third quarter that ended on 31 December 2022 (Q3FY22).

The company made a net profit of INR 8.9 lakhs during the reported quarter, compared to a loss of INR 3.07 lakhs in Q3FY21.

Vaxtex Cotfab said that during Q3FY22, it repaid its entire loan totaling INR 7.5 crores, which was taken from Abhyudaya Co-Operative Bank.

The Indian textile manufacturing company stated: “In the third quarter of FY23, revenue and margins dipped for the Company amidst macro headwinds, with recessionary conditions in key markets, we expect fourth Quarter of FY23 to be a recovery period for the Company.”

Based in Ahmedabad, Vaxtex Cotfab has a production capacity of around 10 lakh meters/month.