Cantabil Retail India Ltd posts Q4 net profit of Rs 7 crore
Cantabil Retail India Ltd witnessed a 60 percent rise in its net profit at Rs 7 crore ($1 million) for the fourth quarter ended March 2021, as against a net profit of Rs 4 crore it had reported in the year-ago period.
The company’s revenue for the quarter was down by 5 percent to Rs 95 crore, as against Rs 100 crore it reported in the corresponding period of the previous fiscal year.
For the financial year 2020-21, the company reported a total income of Rs 268 crore, while its net profit for the year stood at Rs 10 crore.
Commenting on the results, Vijay Bansal chairman and managing director of Cantabil Retail India, Limited in a statement said: “Operations at our company hit a turmoil due to the current situation and ongoing pandemic and we are confident to recover soon from this. Our company had started to gain momentum somewhere in the second half of the year and we were seeing a positive impact, however by the beginning of this year cases started to rise and another lockdown was announced, once again impacting our business operations and sales.”
Cantabil Retail sells its products under the brands Cantabil, Kaneston, Crozo, and Lil Potatoes. It currently has 320 stores, out of which 230 stores are company-owned company operated and 90 stores are franchise-owned franchise-operated.
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