Pic: PDS
Revenue from operations remained stable at ₹2,580 crore, essentially unchanged from ₹2,574 crore year-on-year (YoY) but showing an improvement from ₹2,463 crore in Q2 FY24. The company's gross profit for the quarter stood at ₹537 crore, up 19 per cent YoY from ₹450 crore, albeit slightly lower than the ₹539 crore reported in the previous quarter. Gross margin improved significantly to 20.8 per cent, up from 17.5 per cent YoY and slightly below the 21.9 per cent in Q2 FY24, the company said in a press release.
However, the company faced challenges in terms of earnings before interest, taxes, depreciation, and amortisation (EBIDTA) and profit after tax (PAT). EBIDTA for Q3 FY24 was ₹75 crore, a decrease of 43 per cent from ₹132 crore in Q3 FY23, and a slight drop from ₹136 crore in Q2 FY24. Consequently, the EBIDTA margin contracted to 2.9 per cent from 5.1 per cent YoY. PAT saw a significant decline to ₹25 crore, down 72 per cent from ₹93 crore in the same quarter last year, with the PAT margin reducing to 1 per cent from 3.6 per cent YoY.
In the first nine months of FY24 (9M FY24), PDS Limited achieved a gross merchandise value of ₹10,724 crore, representing a YoY growth of 19 per cent. The consolidated topline reached ₹7,157 crore, with an improved gross margin of 20.6 per cent, an expansion of 375 basis points. The company reported an EBIDTA of ₹278 crore, with an EBIDTA margin of 3.9 per cent, and PAT amounted to ₹137 crore. It is important to note that the PAT for 9M FY23 included a one-time gain from real estate, rendering it not comparable YoY.
Fibre2Fashion News Desk (DP)