The Bombay Store recently announced a profit of 96.70 per cent for financial year 2010 – 2011 from the last financial year with profit before tax of Rs 3,805,951. The Bombay Store has almost doubled the profit before tax in financial year 10 – 11 as compared to preceding year 2009 – 2010 in the declared annual report.
The reasons which contributed to this growth is the addition of three stores and these have now started contributing to the top line of the company. New outlets at airport have opened a completely new avenue of profit for the brands.
Asim Dalal, Managing Director, The Bombay Store said, “In spite of challenges in the growth of Indian retail sector like high rentals and shortage of trained manpower in retail sector, we are seeing positive traction in the retail business. This financial year saw substantial profits for The Bombay Store, which is commendable and very encouraging. We attribute this to our new venture, innovative category controlled costs coupled with increase in revenues.”