Go Fashion stock dips 2% despite robust Q3 performance

7 Feb 2022 , 11:00 AM

Go Fashion (India) Ltd. (Go Colors) announced its results for the quarter ended December 2021 and despite a robust performance in the quarter, its stock dipped over 2% in today’s trade. It was last trading at Rs 995.15 against the previous closing price of Rs 1,015.65, down by Rs 20.50 or 2.02%. Its scrip touched an intraday high and low of Rs 1,035.85 and Rs 995.15 respectively.

The company reported a total income of Rs 142 crore for Q3 FY’22 as against Rs 96.90 crore for Q3 FY’21, reporting a growth of 47% YoY. Its total income for the 9M period ended December 2021 was reported at Rs 285.10 crore as against Rs 160.80 crore for the previous 9M period, registering a growth of 77% YoY.

The company’s PBT stood at Rs 33 crore for December 2021 quarter, as against Rs 16.90 crore for the previous corresponding quarter, up by 95% YoY. While its PAT increased by 33% YoY at Rs 23.70 crore for Q3 FY’22 as against Rs 17.80 crore for the same quarter last year.
Company’s PAT for the 9M period ended December 2021 stood at Rs 23.30 crores as against a loss of Rs 10.70 crore for the corresponding 9M period.

Its EBITDA margin settled at 36.7% for Q3 FY’22 against 31.3% for Q3 FY’21, and PAT margin for the quarter reported at 16.7% against 18.3% for the corresponding quarter.

“We continue to expand and strengthen our bottom wear portfolio by launching new products across Ethnic, Western, Fusion, loungewear, work-from-home collection & athleisure. During FY22, the Company has added 27 EBO stores taking the total to 476 EBO stores, and also introduced 11 new products to the portfolio. As part of our growth strategy, we intend to expand our EBO network in other regions across India. We plan to add 120 — 130 EBO’s every year. We intend to follow the COCO model that will ensure better operational control over our stores,” commented Mr. Gautam Saraogi, CEO, Go Fashion (India) Limited, on the company’s performance.