Cantabil posts 12 percent revenue growth

Indian apparel retailer Cantabil has reported revenue of Rs 194.12 crore, up 12 percent with a net profit of Rs 18.35 crore for the fourth quarter.

For the full financial year, the company said in a release that revenue grew 12 percent to Rs 616.49 crore with a profit reaching Rs 62.22 crore.

Commenting on the financial results, Vijay Bansal, CMD, Cantabil Retail India Ltd. said: “Cantabil delivered another quarter of resilient performance, underlining strong operating fundamentals despite the challenging environment and considerable slowdown in discretionary spending.”

As part of its retail expansion strategy, Cantabil opened 86 new exclusive retail stores during the financial year under review.

The new apparel and accessories stores were opened across Assam, Bihar, Gujrat, Haryana, Himachal Pradesh, J&K, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, West Bengal and Nagaland. At the end of the year, the company operated 533 stores.

“We have further strengthened our balance sheet strength by raising Rs 50.4 crores from marquee investors in Q4 FY24 which will help us to capitalise further on the growth opportunities. The Q1 FY25 so far has seen strong demand uptick despite lower wedding demand. We believe that the discretionary spending will further improve on expectation of a normal monsoon,” added Bansal.