Vedant Fashions Limited reported a 14.6% year-on-year decline in net profit for the third quarter of FY ’26, as softer sales and margin contraction weighed on earnings.
Net profit for the quarter stood at Rs. 135 crore (US $ 14.88 million), compared with Rs. 158 crore (US $ 17.41 million) in the corresponding period last year. Revenue declined 3.8% to Rs. 491.7 crore (US $ 54.21 million) from Rs. 511.2 crore (US $ 56.35 million) a year earlier, reflecting moderation in consumer demand within the apparel and fashion segment.
Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 10% to Rs. 218 crore (US $ 24.03 million), down from Rs. 242 crore (US $ 26.68 million) in Q3 FY ’25. Operating margin contracted to 44.4%, compared with 47.4% in the year-ago quarter, indicating pressure on profitability.
The results suggest that despite relatively stable revenues, higher costs and operational factors impacted overall earnings during the quarter. The decline in margins underscores reduced operating efficiency amid a challenging demand environment.
Vedant Fashions is a leading Indian ethnic wear company best known for its flagship brand Manyavar, along with Mohey and other labels catering to wedding and celebration wear. The company has an extensive retail presence across India and a growing international footprint, with stores in multiple countries serving the Indian diaspora. Its product portfolio includes sherwanis, kurtas, suits, lehengas and a wide range of occasion-led apparel and accessories for men and women.
