Go Fashion (India) registers 12% Y-o-Y decline in PAT during Q4 FY24
Go Fashion (India) reported a 12 per cent Y-o-Y decline in its profit after tax (PAT) for Q4FY24. The brand’s PAT declined to Rs 13.1 crore during the quarter.
Go Fashion (India)’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin also contracted by 180 basis point Y-o-Y to 29.7 per cent from 31.5 per cent in Q4FY23.
However, the brand’s revenues grew by 15 per cent to Rs 181.70 crore, against Rs 157.60 crore in the corresponding quarter of the previous year. Same Store Sales Growth (SSSG) for EBOs grew by 1 per cent for Q4FY24 as compared to Q4FY23 and was flat for FY24.
According to the management of the brand, the retail industry in India faces a temporary decline due to rising inflation and evolving consumer habits. With prices of essential goods on the rise, discretionary expenses are on hold, leading to reduced footfalls for several retailers. The near-term outlook for the industry seems challenging. However, the underlying fundamentals remain strong for the long term, adds the management.
A women’s bottom-wear brand in India, Go Fashion (India) has a 8 per cent share in the branded women’s bottom-wear market. The company is involved in the development, design, sourcing, marketing and retailing of a range of women’s bottom-wear products under the brand, ‘Go Colors’.
