Vedant Fashions Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
January 25, 2024 at 03:05 am EST
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Vedant Fashions Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 4,744.57 million compared to INR 4,414.27 million a year ago. Revenue was INR 4,899.24 million compared to INR 4,514.08 million a year ago. Net income was INR 1,577.11 million compared to INR 1,503.51 million a year ago. Basic earnings per share from continuing operations was INR 6.5 compared to INR 6.19 a year ago. Diluted earnings per share from continuing operations was INR 6.5 compared to INR 6.19 a year ago.
For the nine months, sales was INR 10,043.75 million compared to INR 10,133.04 million a year ago. Revenue was INR 10,499.38 million compared to INR 10,401.1 million a year ago. Net income was INR 2,983.79 million compared to INR 3,202.42 million a year ago. Basic earnings per share from continuing operations was INR 12.29 compared to INR 13.19 a year ago. Diluted earnings per share from continuing operations was INR 12.29 compared to INR 13.19 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.