Vedant Fashions Q1 Results: Profit Falls 32%, But Meets Estimates
The Manyavar owner recorded a net profit of Rs 63 crore for the quarter-ended June, as compared to Rs 92 crore in the same quarter of the previous fiscal.
Vedant Fashions Ltd. on Monday reported a 31.9% year-on-year decline in net profit for the first quarter of fiscal 2025, though it met analysts' estimates.
The Manyavar owner recorded a net profit of Rs 63 crore for the quarter-ended June, as compared to Rs 92 crore in the same quarter of the previous fiscal, according to its stock exchange notification. Analysts tracked by Bloomberg had forecast it at Rs 61.9 crore.
Revenue decreased by 23.1% year-on-year for the three months ended June, reaching Rs 240 crore. Analysts had projected revenue of Rs 283.2 crore.
Operating income, or earnings before interest, taxes, depreciation, and amortisation, fell 23.9% year-on-year to Rs 113 crore. The Ebitda margin contracted to 47% from 48% in the same period the previous year. Analyst estimates for Ebitda and Ebitda margin tracked by Bloomberg were Rs 116.8 crore and 41.20%, respectively.
Shares of the company closed 0.67% lower at Rs 1,075.55 per share, as compared to a 0.02% advance in the NSE Nifty 50.
