Go Colors' operator Go Fashion sees net profit increase 72.75% in FY22 Q4

By

Isabelle Crossley

Published
May 9, 2022

Apparel brand Go Colors' operator Go Fashion reported a 72.75% year-on-year net profit increase for the fourth quarter of the 2022 financial year with a total of Rs 12.3 crore, due to augmented cost efficiency practices. 

Go Fashion’s net profit had totalled Rs 7.12 crore in the fourth quarter of the 2021 financial year. The business’ operational revenue increased by 29.41% in the fourth quarter to total Rs 116.24 crore, compared to Rs 89.82 crore in the same quarter a year ago, according to regulatory filings by the business, accessed by the Press Trust of India. 
 
“With increased cost efficiencies, EBITDA [earnings before interest, taxes, depreciation, and amortisation] and profit after tax have increased by 53% and 73%, respectively, to Rs 38 crore and Rs 12 crore for the quarter,” said Go Fashion’s CEO Gautam Saraogi, the Press Trust of India reported. “Our SSSG [same-store sales growth] is 17% for the quarter and 31% for the second half of the year.”

Go Fashion’s fashion brand Go Colors specialises in women’s bottom wear including leggings and palazzo pants. The brand added 54 new exclusive-brand outlets in the 2022 financial year as it crossed its 500 store milestone in the fourth quarter. The business plans to continue its brick-and-mortar expansion in the 2023 financial year.