Cantabil Retail India posts Q2 net profit of Rs 8 crore

By

Maverick Martins

Published
Nov 1, 2021

Cantabil Retail India Ltd reported a net profit of Rs 8 crore ($1.1 million) for the second quarter ended September 2021, as against a net profit of Rs 1 crore it reported in the year-ago period.
 

The company’s revenue for the quarter rose 85 percent to Rs 90 crore, as against a net profit of Rs 48 crore it reported in the corresponding period of the previous fiscal year.
 
Commenting on Q2 results, Vijay Bansal, chairman and managing director of Cantabil Retail India Limited, in a statement said: “We recorded strong revenue and profit during this quarter. This is mainly because of reducing fear of Covid and movement of activities towards normalization along with store expansion. This quarter usually attracts demand as festivities are around the corner. Luckily for us, the impact of Covid is diminishing as the peak season starts. What's also most important is that now all our stores are functional daily throughout the day. We also see online sales gradually adding to the revenue.

"Going forward, we are confident of pre-Covid growth returning for the company. Overall, we remain focused on creating value for our stakeholders and managing the business for the long term to transform our business and our ways of working,” he added.
 
Cantabil Retail sells its products under the brands Cantabil, Kaneston, Crozo, and Lil Potatoes. It currently has around 339 stores across India.