Chennai, May 7: Go Fashion (India) Ltd which owns the popular women’s wear brand ‘Go Colors’ has recorded a 73.2 per cent jump in its profit after tax (PAT) for the quarter ending March 31, 2022. The company reaped Rs 12.3 crore.
The city-based company registered a PAT of Rs 7.1 crore during the corresponding quarter previous year.
For the financial year ending March 31, 2022, the profit after tax was at Rs 35.6 crore.
Total revenue during the quarter under review grew to Rs 116.2 crore from Rs 89.8 crore registered the same period last fiscal. The total revenue for the year ending March 31, 2022 went up to Rs 401.3 crore from Rs 250.7 crore registered year ago.
Commenting on the financial performance, the company CEO Gautam Saraogi said, “Our company has shown great resilience in FY `22, and we have come out stronger than ever before. Even during the last quarter, despite facing COVID-19 related lockdown in January, our revenues grew by 29 per cent year-on-year led by high volume growth.”
“For the quarter (ending March 31, 2022), our volumes increased by 11 per cent. We have strengthened our portfolio by continually adding new products across all bottom wear categories”, he said.
According to him, the company added 54 exclusive brand outlet stores in last financial year and crossed the 500th store milestone during the quarter ending March 31, 2022.
“Keeping in line with our growth strategy to open more doors closer to the consumer, the company is pushing ahead with expansion. We continue to invest expanding our store foot-print across geographies by adding around 120-130 new stores every year”, he said.
He noted that the company would continue to invest in brand-building initiatives to gain visibility and also focus and grow online sales channels.
“We look forward to continuing our innovative and creative approach and launch more bottom wear styles while providing more brand destinations for our consumers which will help us grow and gain market share”, he said. (PTI)
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