06 November 2024, Mumbai
With growth fueled by the booming saree market, ethnic apparel retailer Sai Silks Kalamandir Ltd (SSKL) expects sales from South India to grow in the coming quarters.
The company’s Q2, FY24 net profit increased by 2 per cent increase in net profit to Rs 24 crore ($2.9 million) for the quarter ended Sep 30, 2024 as against Rs 23 crore in the year-ago quarter.
The company’s revenue for the quarter rose by 6 per cent to Rs 347 crore, as against Rs 326 crore reported in the corresponding quarter of the previous fiscal year.
As South India’s leading ethnic value fashion player catering to wide audience through multiple formats, the company expects to end the financial year with strong sales in the wedding and festive apparel segments.
Currently operating through four different format stores, namely Kalamandir, Mandir, Varamahalakshmi Silks, and KLM Fashion Mall, SSKL also retails through e-commerce channels that include their online stores and multi-brand e-commerce marketplace.
