Vedant Fashions, which owns the ethnic wear brand Manyavar, has recorded a 17.6 percent rise in consolidated net profit at Rs 150.35 crore in the third quarter (Q3) ended December 31 of the current fiscal 2022-23 as against the profit of Rs 127.80 crore in the same period of the previous fiscal 2021-22.
The company’s total revenue from operations stood at Rs 441.4 crore for Q3 of the current fiscal FY 23 as compared to Rs 384.7 crore in the same quarter last year with 14.7 percent year-on-year growth.
As per the regulatory filing, its Earnings before Interest, Tax, Depreciation, and Amortization (EBITDA) in Q3 FY23 stood at Rs 225.8 crore, as compared to Rs 198.4 crore in the corresponding quarter of last year. And EBITDA margin stood at 51.2 percent in Q3 FY23 as compared to 51.6 percent in Q3 FY22.
The company expanded its retail footprint presence by adding 58,000 sq ft retail area in Q3 FY23 and 1.29 lakh sq ft retail area in 9M FY23, with a total retail presence of 13.9 lakhs sq. ft. as of Dec 2022.