Cantabil Retail India posts Q4 net profit of Rs 8 crore
Cantabil Retail Ltd witnessed a 12 percent rise in its net profit at Rs 8 crore ($1.1 million) for the fourth quarter ended March 2022, as against a net profit of Rs 7 crore it reported in the year-ago period.
The company’s revenue for the quarter rose by 42 percent to Rs 135 crore, as against Rs 94 crore it reported in the corresponding period of the previous fiscal year.
For the financial year 2021-22, the company reported a net profit of Rs 38 crore while its revenue for the year was Rs 398 crore.
Commenting on the results, Vijay Bansal, chairman managing director of Cantabil Retail India Limited in a statement said, “We are happy to announce that the Company has produced excellent set of numbers for the financial year 2021-22 on the back of enormous efforts put in by the team. We took the past several quarters as a challenge and built-in strategies and mechanisms to overcome them.”
“We stuck to our plan of targeting new locations and geographies, opening new stores and pushing in through right branding tools. This enabled us to show quick recovery with increasing ticket size and higher NOBs. At the same time, we have been contemplating over the need to have a bigger warehousing facility and corporate office that can take care of various tasks of the organisation considering the future expansion plan and, in this regard, we have invested in the same that would result in better efficiencies and enable us to manage inventory and supply chain more efficiently," he added.
Cantabil Retail sells its products under the brands Cantabil, Kaneston, Crozo, and Lil Potatoes. It ended the year with a total of 378 stores.
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