Brand Concepts Ltd reported a 41 percent decline in net profit to Rs 1 crore ($1,20,057) for the fourth quarter ended March 31, as against Rs 2 crore in the year ago period.
The company’s revenue for the quarter rose by 39 percent to Rs 58 crore, as against Rs 42 crore in the corresponding quarter of the previous year.
For the financial year 2024, the company reported a 11 percent year-on-year increase in net profit to Rs 11 crore on a revenue of Rs 251 crore.
Commenting on the results, Abhinav Kumar, CEO of Brand Concepts in a statement said, “The quarter saw strong 39.5% revenue growth. However, profitability during the quarter was impacted on account of several factors such as our aggressive advertising and marketing spends with respect to new launches and trade shows, preoperative expenses for the new plant, expenses towards new corporate office setup, higher royalty spend and ESOP expense to the tune of Rs 53-54 lacs per quarter.”
“We are investing for the future, and we believe our efforts are aimed towards making Brand Concepts a larger company and a House of Brands even as we continue to discuss with new brands for on boarding,” he added.
During the quarter, the company opened Bagline an outlet each in New Delhi and Mumbai.
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