02 November 2024, Mumbai
Ethnic wear retailer Vedant Fashions registered a 37 per cent growth in its Q2, FY25 net profit to a total of Rs 67 crore (around $8 million) as against Rs 49 crore in the corresponding quarter last year.
The company’s revenues also grew by 23 per cent to Rs 268 crore during the quarter compared to Rs 218 crore in the corresponding quarter of previous fiscal year. Notably, Vedant Fashions managed to reduce its total expenses by 17 per cent Y-o-Y to Rs 197 crore.
For H1, FY25 financial year, the company’s net profit increased to Rs 129 crore while total revenue expanded to Rs 507 crore. During this quarter, Vedant Fashions also launched a new brand titled, ‘Diwas,’ focusing on festive and celebration wear. Additionally, the company introduced actress Janhvi Kapoor as the brand ambassador for its women’s wear brand, Mohey.
Looking ahead, Vedant Fashions plans to expand its retail footprint and anticipates strong growth in the coming quarters, driven by the ongoing festive and wedding season. Known for its readymade ethnic wear, the company operates under the brand names Manyavar, Mohey, Mebaz, Twamev, and Manthan, catering to men, women, and children.
