Vedant Fashions Q4 net profit jumps 22 percent to Rs 109 crore

By

Maverick Martins

Published
May 1, 2023

Vedant Fashions, the parent company of ethnic wear brand Manyavar reported a 22 percent rise in net profit to Rs 109 crore ($13.3 million) for the fourth quarter ended March, as against Rs 89 crore in the year-ago period.

The company’s revenue for the quarter rose by 15 percent to Rs 342 crore, as against Rs 296 crore reported in the corresponding period of the previous fiscal year.

Vedant Fashions net expenses for the quarter were up by 12 percent to Rs 210 crore, as against Rs 188 crore reported in the same quarter of FY22.

For the full financial year 2022-23, the company reported a revenue of Rs 1,355 crore with a net profit of Rs 429 crore.

During the year, Vedant Fashions opened 54 exclusive brand outlets including four international new stores in USA, UAE, Canada, and UK).

Vedant Fashions is primarily engaged in manufacturing, trading, and sale of readymade ethnic wear for men, women, and kids primarily in India under the brand names Manyavar, Mohey, Mebaz, Twamev, and Manthan.