04 February 2025, Mumbai
Parent company of ethnic wear brand Manyavar, Vedant Fashions registered a modest increase in Q3, FY25 net profit to Rs 158 crore ($18.3 million), as against net profit of Rs 157 crore in the same quarter last year.
The company's revenue also grew to Rs 511 crore during the quarter from Rs 474 crore in the corresponding quarter of the previous fiscal year. Its retail sales increased by 9 per cent while same-store sales growth rose by 2.6 per cent as compared to Q3 FY24. The company reported gross profit margin of 67.3 per cent and PAT margin of 30.9 per cent in the quarter. Its sales in Tier II and III recovered strongly during the quarter.
Expanding its retail presence, Vedant Fashions also added 50,000 sq ft of net retail area during the quarter. The company now has a total retail footprint of 1.75 million sq ft as of December 31, 2024. It also launched two exclusive brand outlets for its luxury occasion wear brand, Twamev.
A manufacturer and retailer of ready-made ethnic wear for men, women, and children, Vedant Fashions is the owner of brands including Manyavar, Mohey, Mebaz, Twamev, and Manthan.
