Mumbai, May 6 Vedant Fashions Limited, the company behind the ethnic wear brand Manyavar, on Tuesday, reported a 12.6 per cent decline in net profit for the fourth quarter (Q4) of FY25.
The net profit stood at Rs 101 crore, down from Rs 116 crore in the same quarter last fiscal, according to its stock exchange filings.
Revenue for the quarter remained nearly flat, increasing by just 1.2 per cent to Rs 367.4 crore from Rs 363 crore in Q4 FY24.
Earnings before interest, tax, depreciation, and amortisation (EBITDA) also saw a decline of 5.3 per cent, falling to Rs 165.7 crore.
As a result, EBITDA margins contracted to 45 per cent from 48 per cent a year ago -- reflecting decreased operating efficiency.
Total expenses rose by 6.45 per cent year-on-year (YoY) to Rs 254.79 crore in the fourth quarter of FY25.
The cost of raw materials consumed increased by 19.01 per cent to Rs 45.01 crore, while finance costs went up by 3.06 per cent to Rs 136.23 crore during the same period.
The Board has proposed a final dividend of Rs 8 per equity share for FY25, subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Following the announcement of these results, Vedant Fashions' share price dropped to Rs 735 -- marking a 6.88 per cent or Rs 54.3 decrease from the previous close of Rs 790.15 on the National Stock Exchange (NSE).
Vedant Fashions primarily manufactures, trades, and sells ready-to-wear ethnic clothing for men, women, and children in India through its brands Manyavar, Mohey, Mebaz, Twamev, and Manthan.
The company has over 600 stores in more than 200 cities, including 11 international outlets in the UAE and the US.
The shares of Vedant Fashions were listed on stock exchanges in 2022. The company had made a strong debut by listing over 8 per cent premium at Rs 935 from its issue price of Rs 866.
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