New Delhi (India), July 25: Iris Clothings Limited (NSE: IRISDOREME), a readymade garment company engaged in designing,manufacturing, branding, and selling garments for kids wear, announcedtheir financial results for the First quarter ended June 30, 2023.
Our revenues during the quarter witnessed a marginal increase, however, we ended up with the highest EBITDA and PAT margins reported in the last two years. This came at the back of pick-up in demand, contribution from new product categories and ease in raw material prices. Going forward, we expect our revenues to grow significantly driven by increase in sale volumes.
To reiterate, coming quarters will be all about launching our wide range of products in varied designs, expanding our presence by onboarding more distributors, unlock cross-selling opportunities and growing our brand recall.”
Financial Highlights
• Total Income stood at ₹242 Mn, up 4% YoY driven by pick-up in demand.
• EBITDA margin witnessed a significant improvement and stoodat 26% up 803 bps YoY due to reduction in stock pile-up and low raw material prices.
• PAT margin stood at ~13% as compared to 8% in Q1FY23, up 524 bps YoY.
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