Pioneer Q4 results: Total income rises 56% to Rs 51 crore

BENGALURU: Pioneer Embroideries, manufacturer and exporter of value-added polyester filament yarn and embroidery & laces, has reported Rs 51 crore in total income in the Jan-March quarter, registering a 56 per cent growth. It also reported Rs 1.6 crore in net profits in the fourth quarter, registering a jump as the firm said it recovered from pandemic-hit losses.

Company managing director Harshvardhan Bassi said in a press release, “Like all our peers, we also were hit by the pandemic at the beginning of FY21, but we quickly took steps to gear ourselves to take up the challenge. The impressive growth in profitability came as a result of much-improved operating performance and lower financial cost. We are confident that this performance will be sustained in the times to come.”