Cantabil Retail India has posted an increase of 59.65 percent in net profit to Rs 7.28 crore in the quarter ended March 2021 as against Rs 4.56 crore during the previous quarter ended March 2020. The brand’s sales declined 7.09 percent to Rs 92.83 crore in the quarter ended March 2021 as against Rs 99.91 crore during the previous quarter ended March 2020.
Cantabil’s EBITDA stands at Rs 26.55 crore in March 2021, up 24.07 percent from Rs 21.40 crore in March 2020. Its EPS has increased to Rs 4.46 in March 2021 from Rs 2.79 in March 2020.
For the full year, Cantabil Retail India’s net profit declined 41.21 percent to Rs 9.66 crore in the year ended March 2021 as against Rs 16.43 crore during the previous year ended March 2020. Sales of the company declined 25.56 percent to Rs 251.64 crore in the year ended March 2021 as against Rs 338.04 crore during the previous year ended March 2020.
Commenting on this result, Vijay Bansal, Chairman & Managing Director, Cantabil Retail India Limited, said, “Operations at our Company hit turmoil due to the current situation and ongoing pandemic and we are confident to recover soon from this. Our company had started to gain momentum somewhere in the second half of the year and we were seeing a positive impact, however but by the beginning of this year cases started to rise and another lockdown was announced, once again impacting our business operations and sales. But we are happy to say that our Company has come out of this adversity, strong & resilient and is trying and maintaining sustainability.”
“As of now, only 180 stores are open, on alternate days and with reduced working hours as per state guidelines. Our Company has successfully managed to open 18 new stores this financial year. Overall, for the year-end the total store count has been 320 stores out of which 230 stores are company-owned company-operated and 90 stores are franchise owned franchise-operated,” he further added.