VIP Clothing Ltd reported a 62 per cent decline in net profit to Rs. 23 lakhs for the first quarter ended 30th June, as against Rs 61 lakhs in the year-ago quarter. The company reported a 7 per cent decline in revenue for the quarter, with earnings dropping to Rs 50 crore from Rs 54 crore in the same period last year.
Despite the revenue dip, the company noted signs of recovery in the market during Q1 FY ’25, particularly a resurgence in consumer demand across key markets. VIP Clothing expressed cautious optimism about the ongoing recovery, anticipating that the positive momentum observed in Q1 FY ’25 will continue, leading to better financial performance in the upcoming quarters.
The company also expanded its market presence by onboarding 8 new distributors during the April-June quarter.
