Vedant Fashions Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 31, 2023 at 03:00 am EDT
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Vedant Fashions Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 2,183.01 million compared to INR 2,469.24 million a year ago. Revenue was INR 2,331.14 million compared to INR 2,566.37 million a year ago. Net income was INR 487.23 million compared to INR 690.2 million a year ago. Basic earnings per share from continuing operations was INR 2.01 compared to INR 2.84 a year ago. Diluted earnings per share from continuing operations was INR 2.01 compared to INR 2.84 a year ago.
For the six months, sales was INR 5,299.18 million compared to INR 5,718.77 million a year ago. Revenue was INR 5,600.14 million compared to INR 5,837.02 million a year ago. Net income was INR 1,406.68 million compared to INR 1,698.91 million a year ago. Basic earnings per share from continuing operations was INR 5.79 compared to INR 7 a year ago. Diluted earnings per share from continuing operations was INR 5.79 compared to INR 7 a year ago.
Vedant Fashions Limited is an India-based company. The Company 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. The Company operates primarily in the manufacturing and trading of readymade garments being Indian wedding and celebration wear for men, women and kids. The Companyâs products include men's ethnic and celebration wear items, such as Indo-western, sherwanis, kurtas, and jackets, and accessories, such as jutti, safa and mala, and womenâs ethnic and celebration wear items, such as lehengas, sarees, stitched suits, gowns and kurtis. The Company operates through a single segment, branded fashion apparel and accessories. The Company has approximately 600+ stores in over 200 cities and in three countries with 11 international stores in the United Arab Emirates and the United States.