Go Fashion (India) Ltd, reported a 72.75% increase in its net profit at Rs 12.30 crore for the fourth quarter ended March 2022, helped by increased cost efficiencies.
The company, which retails women’s bottom-wear under the brand ”Go Colors”, had posted a net profit of Rs 7.12 crore in the January-March quarter a year ago, Go Fashion (India) Ltd said in a regulatory filing.
Its revenue from operations was up 29.41 % to Rs 116.24 crore during the quarter under review, as against Rs 89.82 crore in the corresponding period a year ago.
Gautam Saraogi, CEO, Go Fashion(India) commented on this and added, ”With increased cost efficiencies, EBITDA (earnings before interest, taxes, depreciation, and amortization) and profit after tax have increased by 53 per cent and 73 per cent, respectively, to Rs 38 crore and Rs 12 crore for the quarter.”
Total expenses of Go Fashion, which was listed in November last year, were at Rs 104.27 crore, up 20.86 % in Q4/FY 2021-22, as against Rs 86.27 crore of the corresponding period a year ago.
”Our SSSG (Same-Store Sales Growth) is 17 per cent for the quarter and 31 per cent for the second half of the year,” he said.
For the fiscal year ended March 2022, Go Fashion (India) revenue from operations was up 60.1 per cent at Rs 401.31 crore. It was Rs 250.66 crore for 2020-21.
”During FY22, the company added 54 exclusive brand outlets (EBO) stores and we crossed the 500th store milestone during the last quarter. Keeping in line with our growth strategy to open more doors closer to the consumer, the company is pushing ahead with expansion,” said Saraogi.