Go Fashion (India) which owns the leading womenswear brand ‘Go Colors’ reported 3.76 per cent rise in profit after tax in Q2 of the current fiscal. The same was Rs 18.6 crore during corresponding quarter of the previous year.
In a statement, the company said that revenues for the second quarter grew by 48 per cent year-on-year to Rs, 166 crore, the highest-ever quarterly revenues for the company.
The total revenue during the quarter under review stood at Rs. 165.8 crore as against Rs. 112.1 crore registered in corresponding quarter last fiscal.
Gautam Saraogi, CEO, Go Fashion (India) Ltd., commenting on the financial performance of the company said, “Despite a challenging environment, the company has performed well in Q2 and in first half of FY 2022-23.”
He further added that, “We continue to invest in brand-building initiatives which will help us to gain visibility and also to focus and grow our online sales channels to benefit from evolving customer trends in our market.”
The back of high volume growth and improved product portfolio by continually adding new products across all bottomwear categories also contributed to the company’s growth.
During the Q2 of current fiscal, the company opened 36 new stores and in the first six months of the financial year, it added 66 stores.
