VIP Clothing registers Rs 7 crore net loss in Q4, FY24
As against a net profit of Rs 2 crore registered during the corresponding quarter previous year, VIP Clothing recorded a net loss of Rs 7 crore in Q4, FY24 that ended March 31, 2024
The company’s revenue for the quarter also declined by 37 per cent to Rs 32 crore, down from Rs 52 crore in the corresponding period of the prior fiscal year.
For the entire FY 2024, VIP Clothing’s revenues declined to Rs 183 crore while it recorded a net loss of Rs 13 crore. The company’s performance during the quarter and the entire year was impacted by subdued market conditions. In future, it aims to launch new products aligning with customers’ needs. This will help drive positive product uptake and boost demand for its products.
Entering a transformative era, VIP Clothing delivers best-in-class products to expand the power of its brand recall. This will yield strong financial results in the coming quarters, the company hopes.
A specialist in the manufacturing, marketing, and distribution of men’s and women’s innerwear, VIP Clothing owns brands like VIP, Frenchie, Feelings, and Leader.
