Brand Concepts Ltd Q3 net profit declines 40 percent to Rs 2 crore

Brand Concepts Ltd, a luggage and accessories retailer reported a 40 percent decline in net profit to Rs 2 crore ($2,30,304) for the third quarter ended December 2024, as against Rs 3 crore in the year ago quarter.

The company’s revenue for the quarter rose by 2 percent to Rs 67 crore, as against Rs 66 crore in the corresponding quarter of the previous fiscal year.

During the last nine months, the company opened 8 new stores and closed 2 to take its total store count to 46 stores as of December 31, 2024.

Commenting on the results, Abhinav Kumar, CEO of Brand Concepts Ltd in a statement said, “This quarter continued to see pricing pressure from competitors liquidating volumes. However, we have not participated in the price war between incumbents and preferred to focus on overall profitability with reasonable volume growth.”

“At the same time the company has identified some slow movers, on which pricing discount have been passed on and we expect to see some traction coming from those products. Sales growth across channels was muted due to price war, main growth came through canteen stores department,” he added.

Brand Concepts Ltd is an omnichannel fashion and lifestyle retailer with licenses for brands like Tommy Hilfiger, Aeropostale, and United Colors of Benetton. Its private label brands include Sugarush and The Vertical.