April 22, 2024
Corporates

Vedant Fashions Total Income Declines 8.02% QoQ in Q1 FY2024

Vedant Fashions Limited has released its consolidated financial results for the period ended June 30, 2023, showcasing a performance comparison for both quarter-on-quarter (QoQ) and year-on-year (YoY) periods.

QoQ Comparison:

During Q1 FY2024, the company reported a total income of Rs 326.60 crore, reflecting a decrease of 8.02% compared to the previous quarter’s total income of Rs 355.061 crore. The net profit for the quarter stood at Rs 91.945 crore, indicating a decline of 15.54% in comparison to the net profit of Rs 108.866 crore in Q4 FY2023. The earnings per share (EPS) for Q1 FY2024 was recorded at Rs 3.79, down 15.59% from the EPS of Rs 4.49 in the previous quarter.

YoY Comparison:

In the YoY analysis, the company reported a marginal decrease in total income, at Rs 326.60 crore in Q1 FY2024 compared to Rs 332.065 crore in Q1 FY2023, representing a decline of 1.65%. The net profit for Q1 FY2024 was Rs 91.945 crore, showing a decrease of 8.85% in comparison to the net profit of Rs 100.871 crore in Q1 FY2023. The EPS for Q1 FY2024 stood at Rs 3.79, down 8.89% from the EPS of Rs 4.16 in Q1 FY2023.

As of the latest trading session, shares of Vedant Fashions Limited were trading at Rs 1244.75 on the Bombay Stock Exchange (BSE), showing a decline from the previous close of Rs 1281.55. The total number of shares traded during the day was 2465 in over 602 trades.

Vedant Fashions Limited continues to navigate the dynamic market conditions, and investors closely monitor its performance and future growth prospects.

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