Cantabil Retail India Ltd has announced its financial results for the second quarter ending September 30, 2024, showcasing impressive growth despite challenging market conditions. The company reported revenue of INR 151.2 crore and a net profit of INR 6.6 crore for Q2.
Canatabil registers 13% YoY growth with PAT INR 18 Cr
For the six months ending on the same date, Cantabil’s revenue reached INR 279.1 crore, representing a 13% year-over-year growth, with a profit after tax (PAT) of INR 18 crore. The company’s EBITDA rose by 16% year-over-year, totaling INR 73.9 crore for the half-year period.
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“We are pleased to report a robust beginning to FY25, with our Company achieving an impressive 29.4 percent volume growth in H1 FY25,” said Vijay Bansal, Chairman and MD of Cantabil Retail India Limited. “Notably, this success was accomplished despite challenging market conditions and adverse weather conditions.”
Cantabil to operate 23 new stores bringing store count to 550
Notably, Cantabil has expanded its retail presence by opening 23 new exclusive stores across various states, bringing its store count to over 550 nationwide. This growth highlights the company’s strategy to expand its footprint in both offline and online channels.
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Bansal outlined the company’s strategic focus on enhancing customer access and brand presence. “Our strategic agenda is focused on enhancing customer convenience, reinforcing our brand promise, and driving growth through expanded reach, bringing us closer to customers; entry into newer markets; diversification across segments and categories and elevating the shopping experience.”
Looking ahead, Cantabil anticipates an improvement in consumer spending driven by the festive and wedding seasons, coupled with a favourable economic environment. “The combination of above-normal monsoons, festive season, and wedding season is expected to drive improvement in discretionary spending,” Bansal noted.
The company aims to capitalise on emerging opportunities in India’s fashion retail sector by expanding its store network and strengthening its market presence. “We are committed to shifting gears, capitalising on emerging opportunities, and solidifying our position as a leader in the fashion apparel sector,” Bansal concluded.
