Bella Casa, a leading emerging markets company in the fashion industry, announced its financial results for the quarter and nine months ended December 31, 2020.
FINANCIAL OVERVIEW
3QFY21 FINANCIAL PERFORMANCE SUMMARY:
- 3QFY21 consolidated constant currency sales increased by39%YOY to Rs 53.68 Cr.
- India business sales growth of39% YOY, maintaining the same level of operating profitability.
- International business sales growth of 33% YOY, on a constant currency basis
- 3QFY21 consolidated constant currency EBITDA increased by 38 % YOY to Rs 6.3 Cr.
- 3QFY21 consolidated net profit and EPS (without exceptional items) increased by 69% YOY to Rs 4.01 cr and Rs 3.5 per share, respectively.
- The board has declared an interim dividend of 6 % (INR 60 paisa per share)
CEO’s COMMENTS
Commenting on the financial performance of 3Q FY2021, Mr Saurav Gupta, CEO, said:
“During the third quarter of the fiscal year 2021, we have delivered competitive and profitable growth, while continuing to make healthy investments in marketing and creating new capacities. This quarter was our best third quarter ever, and we believe that the worst is behind us. Our comparable sales increased by39%while EBITDA growth was robust at 38%, in constant currency terms.
Going forward, as the market conditions improve even further, we will focus on the new product launchesand enhanced distribution to build on the growth momentum. Overall, we are relentlessly focused on becoming more agile, increasing the pace of innovations, enhancing our go-to-market approach, and will continue to outperform the market and deliver industry-leading returns.”
KEY HIGHLIGHTS/FUTURE PLANS
- Historically, the best third quarter for Bella Casa since its inception.
- Volume growth in line with plans for capacity expansion and new market penetration
- Innovation led to market outperformance, and the company plans to capitalise on this momentum in the upcoming quarter.