Specialty Retail company Credo Brands Marketing announced Q2FY25 results Revenue from Operations: Rs 185.6 crore, Rs 165.6 crore compared to period during Q2FY24, change 12%. Gross Profit: Rs 102.2 crore, Rs 95.3 crore compared to period during Q2FY24, change 7%. Gross Profit Margin 55.1%. EBITDA Rs 57.6 crore, Rs 56.8 crore compared to period during Q2FY24, change 1%. EBITDA Margin: 31.1%. PAT Rs 26.5 crore, Rs 28.0 crore compared to period during Q2FY24, change -5%. PAT Margin 14.3%. Kamal Khushlani, Chairman & MD, Credo Brands Marketing said: “Our Company demonstrated resilience and a steadfast commitment to driving growth despite facing a challenging external environment. Margins due to subdued demand were impacted in this period by several external factors, including a reduced number of wedding dates, unprecedented heavy rains in September, and generally subdued discretionary spending. Despite these headwinds, our growth in revenues by 12% in the quarter underscores our focus on growth and the strength of our response in a shifting market and this is after taking a 3% increase in provisions for returns as compared to the same period last year. Our Gross Profit Margins remained stable, highlighting the strong customer loyalty and enduring appeal of the brand even in challenging conditions. As planned, over the last six months, we have been able to reduce our inventory levels, and we will continue to manage the same going ahead. In this half year, we have opened 17 new stores on a gross basis (2 new stores on a net basis) taking our total count to 427 stores. Given the softer demand environment we have been selective about our store openings and have been focusing on high quality signings. Going forward as demand begins to pick up we expect to further ramp up our store openings and plan to open 20-25 new stores in the second half of the year. We intend to open new stores with aim of improving market share, brand recognition and economies of scale. We are anticipating stronger demand in the coming months, driven by the festive season and upcoming marriages. We are also looking to improve our presence on digital platforms which will help us grew our D2C business and for this purpose we have partnered with Meta and Google. Our strategy revolves around providing high quality products to our customers and continue being the bridge between the mass and premium consumer segments and our asset light business model, robust cash flows, and low-debt position provide a solid foundation to execute our multipronged strategies whilst maintaining profitability and healthy margins." Result PDF