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Cantabil Retail India's Q2 Profit declines 13% to Rs 6.6 crore
Cantabil has intended to increase our store count to more than 700 in the next two years
Cantabil added 23 stores in H1 FY25
Cantabil Retail India reported a 13 percent year-on-year decline in net profit in the second quarter of FY 25.
The retail player profit after tax stood at Rs 6.6 crore in Q2 FY 25 compared to Rs 7.5 crore in the corresponding quarter in the last fiscal year.
The company's revenue from operation grew by 12 percent to Rs 151.2 crore compared to Rs 135 crore in Q2 FY 24.
Cantabil's EBITDA margin for Q2 FY 25 stood at 22.8 percent compared to 22 percent in Q2 FY 24.
The company has added 23 stores in H1 FY25 taking the total tally to 556 stores as of September 30, 2024.
"We intend to increase our store count to more than 700 in the next two years. The target is to improve our reach in Tier 2 & Tier 3 cities with an increased focus on exclusive women and kid wear stores," the retailer said. Cantabil opened 23 stores (net) during H1 FY24.
According to Vijay Bansal, Chairman & MD of Cantabil Retail India, the company will be focusing on " customer convenience, reinforcing our brand promise, and driving growth through expanded reach; entry into newer markets; diversification across segments and categories and elevating the shopping experience".
"The combination of above-normal monsoons, festive season, and wedding season is expected to drive improvement in discretionary spending. Additionally, the government's consumption stimulus will further bolster demand," Bansal added.
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