India's Dollar Industries reports revenue of ₹285.89 crore in Q3 FY23

The operating revenue for Q3 FY23 stood at ₹285.33 crore, a decrease of 25.20 per cent from ₹381.49 crores in Q3 FY22. The company also showed a growth of 1.74 per cent in operating revenue for 9M FY23 at ₹987.45 crore, up from ₹970.59 crore in 9M FY22, Dollar Industries said in a press release.

The gross margin for Q3 FY23 stood at 30.12 per cent, down from 34.20 per cent in Q3 FY22, and for 9M FY23, it was 31.72 per cent, down from 35.06 per cent in 9M FY22.

The EBITDA for Q3 FY23 and 9M FY23 stood at ₹19.96 crore and ₹90.44 crore, respectively, showing a decline of 69.66 per cent and 44.87 per cent from Q3 FY22 and 9M FY22. The profit after tax (PAT) for Q3 FY23 and 9M FY23 stood at ₹8.73 crore and ₹54.56 crore, respectively, showing a decrease of 80.33 per cent and 49.83 per cent from Q3 FY22 and 9M FY22.

Vinod Kumar Gupta, managing director, Dollar Industries Limited, said: “In order to strengthen our market share, we have always been aggressive to increase our product portfolio by including a new range of products in the women's segment and active wear in the premium segment. Recently, we have launched our new product, dollar raincoat, under dollar protect category, which will add on an extra boost to the sales in coming quarters.

“Additionally, our e-commerce sale has shown 16 per cent growth in sales for 9M FY23 (YoY). We would continue to focus on increasing our distribution network, strengthening the product portfolio and keeping our supply chain robust.”

Fibre2Fashion News Desk (DP)