Garment Mantra Lifestyle Q4 net profit rises 164 percent to Rs 37 lacs

Value fashion retailer Garment Mantra Lifestyle Ltd reported a 164 percent increase in net profit to Rs 37 lacs ($44,361) for the fourth quarter ended March 31, as against Rs 14 lacs in the year-ago quarter.

The company’s revenue for the quarter rose marginally by 1 percent to Rs 70 crore, as against Rs 69 crore in the corresponding quarter of the previous fiscal year.

For the financial year 2024, the company’s net profit stood at Rs 2 crore on an annual revenue of Rs 164 crore.

To fuel its future growth, Garment Mantra group is setting up a wholesale hub in the city of Surat in Gujarat to cater to customers from the western, northern, and central region of the country.

Additionally, it plans to expand its presence in the northeast region of India through partnerships with distributors and retailers.

Garment Mantra is a value fashion retailer with a strong presence in tier 2 ,3 markets of the country. The company’s products are available pan-India through a vast network of wholesalers and distributors.