Globe Textiles has announced a board meeting and approved the financial results for the quarter and half-year.

The company raised Rs. 45 Cr through a rights issue, increasing equity capital by Rs. 30 Cr.

It acquired the remaining 30% stake in Globe Denwash Pvt Ltd, making it a wholly-owned subsidiary.

Exceptional income includes a Rs. 1.1 Cr insurance claim after cyclone damage.

Profit after tax was Rs. 6.84 Cr, with margins moderated by higher raw material costs.

New auditors appointed for secretarial and internal audits.