Go Fashion Posts Significant Growth In Q1 FY25
Go Fashion (India) Ltd, a leading women’s bottom-wear brand in India, has announced its unaudited financial results for Q1 FY25, showcasing significant growth across key metrics. The company reported total revenue of Rs 220.1 crore, a 16% increase from Q1 FY24. Gross profit rose by 17% to Rs 136.0 crore, with a gross profit margin of 61.8%. EBITDA reached Rs 72.1 crore, up 12%, while PAT increased by 9% to Rs 28.7 crore.
Gautam Saraogi, CEO of Go Fashion (India) Ltd, stated, “Despite industry-level challenges, we began the year on a strong footing.”
Saraogi added, “Retail footfalls in India declined due to the elections and an intense heat wave. Despite these short-term challenges, we maintained a full price sales ratio of 97%, demonstrating the resilience of our products even in tough market conditions.”
Saraogi also highlighted the company’s effective inventory management, leading to a reduction in warehouse inventory levels. “Our inventory days reduced by 17 days from 104 days in March 2024 to 87 days in June 2024. We strongly believe in sustainable growth backed by cash flows.
He concluded, “In Q1 FY25, we successfully added 20 net new stores to our portfolio, increasing our total store count to 734. We are optimistic about our continued store expansion efforts and aim to open between 120 and 150 new stores during FY25. Our tie-up with the Apparel Group in the Middle East is on track, and the first store should open this financial year. We are witnessing positive Same Store Sales Growth in June and are hopeful this momentum will continue.”