Garment Mantra Lifestyle posts Q3 net profit of Rs 3 crore

By

Maverick Martins

Published
Jan 19, 2022

Garment Mantra Lifestyle Ltd reported a net profit of Rs 3 crore ($403,223) for the third quarter ended December 2021, as against a net profit of Rs 1 crore it posted in the corresponding period of the previous fiscal year.
 

The company's revenue for the quarter jumped to Rs 57 crore, as against Rs 22 crore it reported in the year-ago period.
 
Commenting on the Q3 performance, Prem Aggarwal, chairman and managing director, in a statement said, “We are pleased to report another quarter of consistent and strong growth, supported by differentiated offerings, efficient operations and business strategies. We continue to execute strongly on all our key strategies, driving growth across our three primary verticals."

"We have setup two integrated facilities in Surat and Raipur as part of our business plan to setup centers across India and serve tier 2 and 3 towns/districts which have a very strong potential and market opportunity to grow our wholesale surplus and retail model in a very significant manner, we have seen substantial growth in our Poorti model and we expect this model to grow at a CAGR of 30 percent over the next few years," he added.
 
Garment Mantra is a value fashion retailer with a strong presence in tier 2 ,3 markets of the country.