Net profit of Vedant Fashions, owner of Manyavar, up 17.6% in Q3 FY 2023, Retail News, Retail ET

Net profit of Vedant Fashions, owner of Manyavar, increased 17.6% in the third quarter of fiscal 2023

New Delhi: Vedant Fashionthe company owns the national costume brand Manyavaron Saturday reported a 17.6% increase in consolidated net profit at Rs 150.35 crore for the third quarter (Q3) ending December 31 of the current fiscal year 2022-2023 compared to profit Rs 127.80 crore for the same period of fiscal year 2021 prior to -22, according to a mad cow disease submit.

The company’s total operating revenue reached Rs 441.4 billion in the third quarter of the current financial year 23 compared to Rs 384.7 in the same quarter last year with a growth of 14.7% year-on-year. .

According to regulatory records, Earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter of fiscal year 2023 reached Rs 225.8 cores, compared with Rs 198.4 cores in the corresponding quarter of last year. And EBITDA margins stood at 51.2% in the third quarter of fiscal 2023 compared to 51.6% in the third quarter of fiscal 2022.

During the nine-month period ending December 31, 2022, 51,730 equity shares were issued to employees of the parent company against stock options exercised by them, the company said. known in the regulatory file.

The company expanded its retail footprint by adding 58,000 retail space in the third quarter of fiscal 2023 and 1.29 million retail space in the first nine months of fiscal 2023, for a total area of retail is 13.9 lakh square feet as of December 2022, the company said in its investor presentation.


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