Cantabil Retail India Limited reported a 9 percent increase in net profit to Rs 18 crore ($2.1 million) for the fourth quarter ended March 31, as against Rs 17 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 12 percent to Rs 194 crore, as against Rs 174 crore in the corresponding quarter of the previous fiscal year.
For the full financial year, Cantabil reported a revenue of Rs 616 crore with a net profit of Rs 62 crore.
Commenting on the results, Vijay Bansal, chairman managing director of Cantabil Retail in a statement said, “Cantabil delivered another quarter of resilient performance, underlining strong operating fundamentals despite challenging environment and considerable slowdown in discretionary spending. We have demonstrated notable resilience in these tough conditions by delivering a revenue growth of 12 percent in FY24.”
“With a positive outlook on the growth prospects of both the Indian economy and the fashion apparel sector, we are determined to leverage our robust brand recall value to drive consistent, sustainable growth,” he added.
During the financial year 2024, the company expanded its retail presence by adding 86 stores to take its total tally to 533 stores as of March 31, 2024.
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