Vedant Fashions, the proprietor of Manyavar, reported a 4.8% surge in its consolidated net profit for the third quarter (Q3) concluding on December 31, 2023. As per a regulatory filing, the company disclosed a consolidated net profit of INR 157.71 crore, marking an increase from INR 150.35 crore reported in the same period of the preceding fiscal year.
As per the BSE filing, the revenue from operations in Q3 FY24 rose to INR 474.45 crore, compared to INR 441.42 crore in Q3 FY23.
The company’s total expenses in Q3 FY24 increased to INR 278.02 crore, up from INR 249.47 crore in the same quarter of the preceding fiscal year.
Vedant Fashions Limited is primarily engaged in the production, trading, and retail of ready-to-wear Indian wedding and festive attire for men, women, and children. The company operates under various brand names, including Manyavar, Mohey, Mebaz, Twamev, and Manthan.
Furthermore, Vedant Fashions currently holds complete ownership of Manyavar Creations Private Limited (MCPL), a subsidiary dedicated to the trade of ready-to-wear Indian wedding and celebration attire, along with associated accessories for men, women, and children.
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