Compared to a net profit of Rs. 2 crore in the same period last year, VIP Clothing Ltd. reported a net loss of Rs. 7 crore for the fourth quarter that ended on 31st March.
Compared to the same period in the previous fiscal year, when the company’s sales was Rs. 52 crore, its revenue for the current quarter decreased by 37 per cent to Rs. 32 crore.
With revenue of Rs. 183 crore, the company declared a net loss of Rs. 13 crore for the entire fiscal year 2024.
“Our performance in the quarter and year were impacted due to generally subdued market conditions. Going forward, we are continuously focused on launching new products that are closely aligned with our customers’ needs. This strategic approach offers us positive product uptake, contributing to robust demand for our products,” VIP Clothing Ltd said in a statement.
“VIP is entering a phase in which it is embarking on a transformative era, expanding brand recognition and delivering best-in-class products that will yield robust financial results in the coming quarters,” it added.
VIP Clothing Ltd is engaged in the business of manufacturing, marketing and distribution of men’s and women’s innerwear under the brand’s VIP, Frenchie, Feelings, and Leader.
