VIP Clothing Ltd Q4 net profit slips to Rs 2 crore

By

Maverick Martins

Published
May 29, 2023

VIP clothing Ltd witnessed a five percent decline in net profit to Rs 2 crore ($2,42,267) for the quarter ended March 2023, as against Rs 2.10 crore reported in the year-ago period.

The company’s total income for the quarter rose to Rs 51 crore, as against Rs 49 crore in the corresponding period of the previous fiscal year.

VIP Clothing’s total income for the full financial year was Rs 202 crore with a net profit of Rs 7 crore.

“The robust financial performance for the financial year 2023 can be attributed to the company's strong brand positioning, effective marketing strategies, strong distributorship, and the ability to tap into growing demand for high-quality innerwear.” VIP Clothing said in a statement.

 “VIP is at a cusp of its transformational journey and aims to further enhance its asset turnover, increase profitability, further improve working capital days, streamline manufacturing and sourcing process, improve advertising efficiency and leverage technology to drive growth while boosting brand recallability with customers,” it added.

VIP Clothing is one of India’s leading intimate apparel companies providing intimate wear to consumers across various segments under different brands. It has a pan-India presence with one of the largest distribution networks.