PDS Limited sees revenue grow 25% quarter on quarter in FY24 Q4

Fashion solutions and infrastructure business PDS Limited reported that its revenue from operations grew by 25% quarter on quarter in the fourth quarter of the 2024 financial year to total Rs 3,215 crore. The company’s gross merchandise value increased by 19% during the same time period to reach Rs 4,526 crore.

However, despite the quarter on quarter growth, the business’ revenue from operations was down 2% year on year for the 2024 financial year as a whole at Rs 10,373 crore compared to Rs 10,577 crore, PDS Limited announced in a press release on May 15. The business’ GMV increased by 25% year on year during the 2024 fiscal year to Rs 15,048 crore compared to Rs 12,059 crore.
 
“In light of the current year’s performance, we perceive it as merely a transient phase in PDS’s continuous evolution,” said the business’ executive vice chairman Pallak Seth in a press release. “The disruptions being witnessed in the fashion landscape are unveiling numerous promising prospects, prompting us to expand our talent pool and capabilities to seize these opportunities. We are fortified with confidence in our capacity to harness strategic advantages within the global fashion value chain. Our paramount goal remains consistent: to position ourselves as the foremost and innovative solutions provider throughout the fashion value chain.”
 
PDS Limited’s service include product development, sourcing, manufacturing, and brand management. The business noted that higher interest rates and strategic investments affected its financial results.
 
“As we reflect on our performance for both Q4 FY24 and the fiscal year as a whole, it’s evident that our journey has been marked by challenges amidst an environment of tepid demand,” said PDS Limited’s Group CEO Sanjay Jain. “However, we are encouraged by the uptick in growth witnessed during the final quarter of the year. Looking ahead, our focus is squarely set on maximising returns from the strategic investments made, with a keen emphasis on fostering synergies across our operations. We remain dedicated to unlocking the full potential of the PDS platform and leveraging synergies to drive sustainable growth in the years to come.”