Other apparels & accessories firm Go Fashion (India) announced Q3FY23 results:

• Q3FY23:
  • Revenue from operations at Rs 177 crore up 24%.
  • Gross profit at Rs 104 crore up 21%.
  • EBITDA Rs 59 crore up 14%.
  • Profit after tax (PAT) at Rs 24 crore up 3%.
  • Average Selling Price for 9MFY23 stood at Rs 724
  • Sales mix for 9MFY23:
    • EBO : 73.4%; LFS : 20.9%; MBO & Others : 3.1%; Online : 2.6%
  • Cash flow from operations for 9MFY23 stood at Rs 60 crore 
  • RoCE stood at 19.8%; RoE stood at 17.8% for 9MFY23 (on annualized basis)
  • Cash & cash equivalents stood at Rs 118.2 crore. as on December 31, 2022.

Commenting on the Result, Mr. Gautam Saraogi, CEO, Go Fashion (India) Limited said: “The company has performed well despite a slow down seen post festive season in Q3 FY23. Our Revenues for Q3FY23 grew by 24% YoY to Rs 177 crores, highest ever quarterly revenues at Go Fashion. EBITDA and PAT grew by 14% and 3% respectively to Rs 59 crores and Rs 24 crores, respectively. This has been on the back of volume growth and consistently increasing the number of EBOs.

We continue to invest in brand-building initiatives by creating a strong branding team which will help us to gain visibility and to focus and grow our online channel sales to benefit from the evolving customer trends in our market. The approach of our brand campaigns is to reach out to audience who have an affinity to the brand and also to the audience who are currently in the consideration funnel of purchase. 

In Q3FY23, the company has added 35 new stores and in 9MFY23, the company added 101 new stores. This is in line with the growth strategy to open more doors closer to the consumer. We are also looking at omnichannel engagements for a seamless consumer experience, building on technology-driven growth strategy to reach consumers across all cities.

We look forward to continuing our innovative and creative approach and launch more designs while providing more brand destinations for our consumers which will help us grow and gain market share in the coming years.”

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