Gokaldas Exports Ltd has reduced its losses to Rs 10.98 crore for the fourth quarter of the financial year 2012-13 compared with Rs 51.39 crore loss during the same period last year (2011-12).

The company’s income from operations was flat at Rs 274.89 crore in Q4 of FY 2012-13 compared with Rs 275.12 crore recorded during the financial year 2011-12.

EPS stood at Rs 3.20 against Rs 14.95 recorded last year. For the full-year, loss was Rs 109.44 crore against a loss of Rs 132.37 crore last year.

The company’s income from operations was higher by 4.22 per cent at Rs 980.99 crore in FY 2012-13 compared with Rs 1024.25 crore recorded during financial year 2011-12.

According to Gautam Chakravarti, Chief Executive Officer, “Merchandise sales have been flat in FY13 compared to previous year despite difficult conditions in the global markets. Our focus continues to be on stronger customer connect, improvement in productivity, cost management measures and growth in top line.”

On a macro basis, there has been no improvement in the apparel segment over the past few quarters. “Garments exports from India have declined by 8 per cent in first nine months of FY13 driven by a steep 22 per cent decline in exports to Europe,” he said.

Against this backdrop of declining exports, there has been growth in order book particularly in first half of FY13 resulting in revenue growth in Q4 FY13.

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