Campus Activewear reported 48.47% decline in consolidated net profit to Rs 24.89 crore in Q3 FY24 as compared with Rs 48.31 crore in Q3 FY23
Revenue from operations increased 1.37% year on year (YoY) to Rs 472.01 crore in the third quarter of FY24.Profit before tax fell 48.50% to Rs 33.47 crore in the quarter ended December 2023 as compared with Rs 65 crore posted in Q3 FY23.
EBITDA slipped 37.9% to Rs 57.6 crore in Q3 FY24 as against Rs 92.8 crore posted in Q3 FY23. EBITDA margin contracted to 12.2% in Q3 FY24 as against 19.9% recorded in the same period last fiscal.
The sales volume stood at 6.9 million pairs in Q3 FY24 while the companys ASP stood at Rs 681 in Q3 FY24 as compared with Rs 669 in Q3 FY23.
Campus Activewears CEO, Nikhil Agarwal, said, The company successfully navigated the aftereffects of B2B platforms of Q2FY24 with increased focus on the market-place albeit with increased marketing spends. Campus Activewear witnessed higher demand from its key distribution markets which were muted in Q2FY24 owing to destocking and inventory corrections. Our revenue growth during the quarter remained subdued as compared to the last year owing the change in channel mix. However, we have witnessed a sharp improvement in the gross margins owing to lower materials cost in Q3FY24.
Campus Activewear continues to invest in the brand resulting to be a preferred one-stop family sports and athleisure footwear company for its esteemed consumers. Moving towards our journey of expansion and growth, we have achieved the milestone of 250 stores nationwide with our new store in Seasons Mall, Pune during Q3FY24. The Company remains committed towards it legacy of fashion excellence and customer-first approach and satiate the customer demand through its diverse trendy design, captivating colours styles and attractive price points for varied occasions.
Also Read
Campus Activewear is primarily engaged in the business of manufacturing and trading of footwear and accessories through its retail and wholesale network.
The scrip fell 0.70% to settle at Rs 256.75 on Friday, 9 February 2024.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content