
Cantabil Retail India posted a profit after tax (PAT) growth of 13.66 per cent year-on-year in the third quarter, with the company reporting revenue of Rs 163 crore with a net profit of Rs 27 crore.
The revenue for the company went up by 23.81 per cent to Rs 163.10 crore as compared to Rs 131.72 crore in the previous year’s quarter, according to a statement shared with exchanges. For 9M FY23, the company reported a revenue of Rs 380 crore with a PAT of Rs 50 crore.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) rose by 11.13 per cent to Rs 55.94 crore when compared to Rs 47.26 crore in the previous year period.
During the reviewed period, the company said its basic earning per share was at Rs 16.51 against Rs 14.51 for the period from the previous year.
“I am happy to share that we have registered revenue of Rs163 crores in Q3 FY23 with EBITDA and PAT of Rs 56 crores & Rs 27 crores respectively. 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 has 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., when commenting on the increase in profits.
Cantabil, as a part of its retail strategy, has opened 19 new stores across the country during the 3rd quarter. With these openings, Cantabil has reached a store mark of 439 stores and plans to continue expansion across India.
In the coming months, the company intends to make significant investments in Tier II and Tier III markets and further increase its retail presence by opening 80 to 90 stores every year.
Cantabil India was established in 1989 and caters to the designing, manufacturing, branding and retailing of apparel and accessories.