Ashapura Intimates Fashion Q3 profit zooms to Rs 38 crore, plans 100 new stores
Ashapura Intimates Fashion posted a profit of Rs 38 crore (approx $6 million) for the quarter ended December 31, as compared to the Rs 2.6 crore (approx $0.4 million) it reported during the same period last fiscal.
The revenue jumped three times to Rs 112 crore (approx $17.5 million) for the quarter this fiscal from Rs 36 crore (approx $5.7 million) it posted last year.
After profitable growth in the quarter, the company said that it will invest heavily to expand its ethnic nightwear brand with the focus on the South Indian markets. The company is also planning to expand its physical presence across the country by adding over 100 outlets in the coming year.
During the quarter, the company introduced a new brand for men, boys and toddlers under the name of Tricci and added five exclusive brand outlets.
Ashapura Intimates Fashion Ltd (AIFL), a fashion house incorporated in 2006, manufactures and retails intimate garments for men, women and children. The company has solidly established its loungewear and sleep wear brand Valentine across the country.
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