VIP Clothing Ltd posts Q4 net loss of Rs 7 crore

VIP Clothing Ltd reported a net loss of Rs 7 crore ($8,42,776) for the fourth quarter ended March 31, as against a net profit of Rs 2 crore in the year-ago quarter.

The company’s revenue for the quarter was down by 37 percent to Rs 32 crore, as against Rs 52 crore in the corresponding period of the previous fiscal year.

For the full financial year 2024, the company reported a net loss of Rs 13 crore with a revenue of Rs 183 crore.

“Our performance in the quarter and year were impacted due to generally subdued market conditions. Going forward, we are continuously focused on launching new products that are closely aligned with our customers’ needs. This strategic approach offers us positive product uptake, contributing to robust demand for our products,” VIP Clothing Ltd said in a statement.

“VIP is entering a phase in which it is embarking on a transformative era, expanding brand recognition and delivering best-in-class products that will yield robust financial results in the coming quarters,” it added.

VIP Clothing Ltd is engaged in the business of manufacturing, marketing and distribution of men’s and women’s innerwear under the brand’s VIP, Frenchie, Feelings, and Leader.