Go Fashion Q4 net up 73pc to Rs 12cr; sales up 29 pc to Rs 116 cr, Retail News, ET Retail
New Delhi: Go Fashion (India) Ltd, on Saturday reported a 72.75 increase in net profit to Rs 12.30 crore for the fourth quarter ended March 2022, helped by an increase in profitability. The company, which retails women’s bottoms under the “Go Colors” brand, recorded a net profit of Rs 7.12 crore in the January-March quarter a year ago, Go Fashion said ( India) Ltd in a regulatory filing.
Its operating income rose 29.41% to Rs 116.24 crore in the quarter under review from Rs 89.82 crore in the corresponding period a year ago.
“With increased cost savings, EBITDA (earnings before interest, tax, depreciation and amortization) and profit after tax increased by 53% and 73%, respectively, to Rs 38 crore and Rs 12 crore for the quarter. “, said Gautam Saraogi, CEO of Go Fashion (India).
Total spend at Go Fashion, which was listed in November last year, was Rs 104.27 crore, up 20.86% in Q4/FY 2021-22, from Rs 86.27 crore in the corresponding period one year ago.
“Our SSSG (Same-Store Sales Growth) is 17% for the quarter and 31% for the second half,” he said.
For the fiscal year ended March 2022, Go Fashion (India) operating revenue increased by 60.1% to Rs 401.31 crore. It was Rs 250.66 crore for 2020-21.
“In FY22, the company added 54 exclusive brand (EBO) stores and we reached the 500th store milestone in the last quarter. In line with our growth strategy to open more doors closer of the consumer, the company continues to expand,” said Saraogi.