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Cantabil records net profit of Rs 27 crore in the third quarter of 2022

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The apparel brand Cantabil also revealed a 23.81% growth year-on-year (YOY) and an increased profit after tax (PAT) by 13.66% YOY

 New Delhi: Apparel manufacturer and retailer Cantabil Retail India Ltd. recorded a revenue of Rs 163 crore in its third quarter of 2022, with a net profit of Rs 27 crore for the quarter.

In the third Quarter of financial year 2023, the company registered an Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) of Rs 56 crore.

The apparel brand also revealed a 23.81% growth year-on-year (YOY) and an increased profit after tax (PAT) by 13.66% YOY.

Cantabil is aggressively growing its presence in both online and offline market across India to further consolidate its position in the market, said the brand in a release.

During the third quarter of 2022, the retailer and manufacturer opened nineteen new retail stores. The brand’s latest outlets have opened in different states including J&K, Maharashtra, Punjab, Uttar Pradesh, Nagaland, Gujarat, Himachal Pradesh, Madhya Pradesh, Rajasthan and Haryana.

Currently, Cantabil has 439 stores across India and plans to increase this number this year.

“For the nine-month period, revenues stood at Rs 380 crore with EBITDA and PAT of Rs. 123 crore and Rs. 50 crore, respectively. Our revenues from same stores have played an instrumental role in delivering the desired growth in financial performance.

“Apart from this, addition of new stores has also significantly contributed towards the superior performance and provides an expanding platform to support our strategic growth objectives,” said Vijay Bansal, CMD, Cantabil Retail India Ltd.

Furthermore, Cantabil plans to make investments in Tier 2 and Tier 3 markets and for the retail stores, the brand plans to focus on West Bengal, Bihar, Jharkhand, Bihar, Gujarat, Uttar Pradesh, Madhya Pradesh, and parts of North-Eastern states.

The brand offers a range of formal-wear, party-wear, wedding collections, casuals, and ultra-casual clothing for men, women, and children.

Cantabil has developed into a family-wear brand in India with the addition of the men’s apparel in 2000, women’s wear in 2007, and a kids’ line in 2018.

By releasing perfumes, deodorants, socks, handkerchiefs, ties, belts, wallets, and trolleys in 2013, Cantabil also entered the accessories industry.

Established in 1989, Cantabil Retail India Ltd. is in the business of designing, manufacturing, branding, and retailing apparel under the brand name Cantabil.

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