Vedant Fashions, the parent company of Manyavar, showcased strong financial results in Q3 FY24. The company reported a revenue from operations of Rs 511 crore, up significantly from Rs 268 crore in the previous quarter and Rs 474 crore in the same period last year. Total income, including other revenue streams, stood at Rs 534 crore.
The profit before tax for the quarter was Rs 211 crore, marginally lower compared to Rs 212 crore YoY but an improvement from Rs 90 crore in Q2 FY24. After factoring in tax expenses of Rs 54 crore, Vedant Fashions recorded a net profit of Rs 158 crore, slightly above the Rs 158 crore YoY figure.
| Particulars | Q3 FY24 (Rs in crore) | Q2 FY24 (Rs in crore) | Q3 FY23 (Rs in crore) | QoQ Growth (%) | YoY Growth (%) |
|---|---|---|---|---|---|
| Revenue from operations | 511 | 268 | 474 | 90.7% | 7.8% |
| Other income | 22.4 | 19.2 | 15.5 | 16.7% | 44.5% |
| Total income | 534 | 287 | 490 | 86.1% | 9.0% |
| Total expenses | 322 | 197 | 278 | 63.5% | 15.8% |
| Profit before tax | 211 | 90 | 212 | 134.4% | -0.5% |
| Tax expense | 54 | 23.3 | 54.1 | 131.8% | -0.1% |
| Net profit | 158 | 66.9 | 157.7 | 136.2% | 0.2% |
Analysis:
- QoQ Growth: The company posted significant quarter-on-quarter growth across key metrics, particularly revenue (90.7%) and net profit (136.2%), reflecting robust operational performance.
- YoY Growth: Revenue increased by 7.8% YoY, while net profit remained flat at 0.2%, indicating consistent profitability despite increased expenses.
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Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
