BHRL posts 50% increase in net profits during 3rd quarterBrandhouse Retails Limited (BHRL), one of the leading fashion retailers in India, today announced a 50.43% increase in net profits during Q3 of FY 2010, from Rs 10.03 crore during 3rd quarter of last fiscal to Rs 16.73 crore for 3 month period.
By: Mariette Valsan, Tatva Public Relations Revenues during the period grew by 26%, from Rs 151.29 crore in the three corresponding months of last fiscal (FY2009) to Rs 190.50 crore during September to December 2010. AT a board meeting held yesterday in Mumbai, the company also declared results for the first 9 months of this fiscal. During the first 9 months of FY 2010, net income from operations at BHRL increased by 23% to Rs 504.38 crore from Rs 409.33 crore during the corresponding 9 months of last fiscal. The net profits during the same period grew by 55.84%, to Rs 18.95 crore from Rs 12.16 crore during the 9 months of the last fiscal. Commenting on the Q3 FY2010 results, Mr. Nitin S. Kasliwal, Chairman and Managing Director, BHRL said, “I am pleased to announce healthy financial and operating results during the quarter under review. Our performance has endured on the back of strong foothold in the branded space, where we are present across various segments of domestic retail markets. The rising consumer appetite is leading to greater confidence and we stand to benefit in this market upsurge. BHRL remains confident of achieving continued growth in performance. The optimism is driven by the strong existing store network, sustained expansion of new stores, having a portfolio of brands that attract customers, presence across socio-economic segments and the reviving consumer sentiment. There has been an overall improvement in the demand scenario resulting in noticeably better consumer confidence in the ‘high-retail- “Given our widening store network across key retail points in the country, we have been able to deliver continuous revenue growth which is translating into a stronger profit performance. As part of our strategy to enhance our earnings, we are expanding our own store network and are focused on improving our key operational matrix which include better working capital rotation, higher per square foot sales, improving same store sales and well considered new store expansions,” ” The retail space continues to offer abundant prospects in India and we intend to maximize the benefit going forward.” [ENDS] Financial performance update: Q3 FY2010 results compared with Q3 FY2009 results: Revenues at Rs 190.50 Crores versus Rs 151.29 Crores, up 25.92% EBIDTA higher by 66.80% to Rs 16.73 Crores from Rs 10.03 Crores Net profits enhances 50.43% to Rs 7.04 Crores from Rs 4.68 Crores EPS (not annualized) at Rs 1.31 9M FY2010 results compared with 9M FY2009 results: Net income from operations up 23.22% to Rs 504.38 Crores as compare to Rs 409.33 Crores EBIDTA rises 46.62% to Rs 43.43 Crores from Rs 29.62 Crores Net profits at Rs 18.95 Crores from Rs 12.16 Crores, up 55.84% EPS (not annualized) at Rs 3.54 Financial snapshot: Particulars Q3 FY2010 Revenues EBIDTA Margin (%) 8.78 PBT 10.13 6.47 Margin (%) 5.32 PAT 7.04 Margin (%) 3.70 About Brandhouse Retails Limited: Brandhouse Retails Limited is one of India’s leading retailers that has interests in retailing fashion. The Company is involved in developing and managing exclusive brand outlets EBOs for a multiple set of brands. BHRL currently carries a host of reputed brands that cater to various segments of the Indian retail market. The brands under the BHRL umbrella include Reid and Taylor, Stephens Brothers, Carmichael House, Belmonte, and Dunhill. Going forward, the BHRL portfolio will include SKNL brands, premium international brands and international luxury brands. The management plans to actively scout for various international brands that may be suitable for the Indian market. For further information please contact: Priyanka Rawlani : Corporate Communications SKNL 022 28250797 email priyanka.rawlani@ End
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