Cantabil Retail net profit jumps 77 per cent to Rs 67 crore in fourth quarter
May 15, 2023
New Delhi [India], May 15 : Cantabil Retail India on Monday posted a 76.68 per cent jump in its net profit to Rs 67.24 crore for the quarter ended March 31, 2023, over the figures in the year-ago period.
The company said in a statement shared with exchanges that there were 447 stores as on March 31, 2023. Revenue stood at 551.72 crore, which grew 43.96 per cent over last year's figures.
The company also said its earnings before interest, taxes, depreciation, and amortization (Ebitda) during the reviewed quarter grew 48.61 per cent to Rs 163.65 crore year-on-year.
For the whole year of FY23, the profit after tax margin was at 12.19 per cent, according to a statement shared with stock exchanges.
Revenue from operations was Rs 551.72 crore in FY23 as against Rs 383.24 crore in FY22 YoY, which showed an increase of 43.96 per cent.
The company said this growth was mainly driven by a steady increase in revenues from same-store growth and new stores.
Vijay Bansal, Chairman and Managing Director of Cantabil Retail India, said, "I am happy to share that we have registered a 30 per cent y-o-y growth in our revenues for the Q4 FY23 (fourth quarter) registering revenue of Rs 172.8 crore with an Ebitda of Rs 41.73 crore and profit after tax stands at Rs 16.9 crore. For the financial year our revenues grew by 44 per cent reaching Rs 551.7 crore with an Ebitda and profit after tax (PAT) of Rs 163.6 crore and Rs. 67.2 crore respectively."
He added, "This growth in our financial performance has been on back on healthy sales from the same stores combined with the addition of new stores."
The CMD said during the year, the company has expanded its reach across various online platforms opening up new opportunities for growth and reaching a wider customer base as in today's digital age it makes a promising avenue for expanding the business even further.
