Go Fashion India Ltd witnessed an 8 percent rise in net profit to Rs 26 crore ($3.2 million) for the first quarter ended June 30, as against Rs 24 crore reported in the year-ago period.
The company’s revenue for the quarter rose by 15 percent to Rs 194 crore, as against Rs 169 crore posted in the corresponding period of the previous fiscal year.
Commenting on the result, Gautam Saraogi, CEO of Go Fashion in a statement said, “Over the past few months, the retail industry in India has experienced a noticeable slowdown, and the prevailing operating conditions have posed significant challenges for businesses in this sector. Despite the deceleration in the industry, our company has managed to outperform the market, showcasing commendable resilience and growth.”
“To further enhance the customer experience, we are also exploring omnichannel engagements, leveraging technology to create a seamless shopping journey that transcends physical and online boundaries, reaching consumers across various cities,” he added.
During the quarter, Go Fashion added 25 exclusive stores to its network taking its store count to 655 stores across the country.
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