Credo Brands Marketing Q3 net profit rises 17 percent to Rs 18 crore

Credo Brands Marketing Ltd reported a 17 percent increase in net profit to Rs 18 crore ($2.1 million) for the third quarter ended December 2024, as against Rs 16 crore in the year ago quarter.

The company’s revenue for the quarter rose by 4 percent to Rs 156 crore, as against Rs 150 crore in the corresponding quarter of the previous fiscal year.

Commenting on the results, Kamal Khushlani, chairman Credo Brands in a statement said, “Our commitment to achieving profitable growth is demonstrated as we delivered a decent Q3 FY25, with revenue growing by 4% and gross margins expanding by 210 basis points to 61.9%, despite subdued demand for premium and mid-premium branded apparel due to factors such as reduced discretionary spending and weaker consumer sentiment impacting overall industry consumption.”

“We are confident in our ability to handle short-term fluctuations and achieve sustainable, consistent and profitable growth in the future,” he added.

During the April-December period, the company opened 27 new stores to take its total count to 435 stores across 243 cities in India.