Apparel 29-01-2022 Hits: 1820

Iris Clothing results reported for Q3 FY’22

Apparel 29-01-2022 Hits: 1820

29 January 2022, Mumbai:

Iris Clothing Ltd., a leading readymade garment company, announced its results for the quarter ending December 2021 under which it reported a decline of 11% YoY in its total income at Rs 25.1 crore against Rs 28.20 crore for Q3 FY’21.

It reported EBITDA for the quarter ending December 2021 grew by 9.6% YoY at Rs 5.2 crore against Rs 4.8 crore for the previous corresponding quarter.

The company’s PAT showed a growth of 19.7% YoY at Rs 2.4 crore against Rs 2 crore for the same quarter the previous year.

Iris Clothing records 20% yoy growth in Q3 PAT; Stock surges

Its PAT margin for Q3 FY’22 stood at 9.5%, against 7.1% in Q3FY21. While EBITDA margin for the quarter under consideration stood at 20.9% compared to 16.9% in Q3FY21, up by 392 bps.

“We are pleased to announce the launch of our infant wear vertical which has started hitting the markets since January 2022. The accessories line of this vertical and sportswear will be launched by QIFY23.

Our revenues for the quarter took a hit as we refrained from selling our goods due to the expected GST rate hike from the Council. This has impacted all domestic suppliers of garments,” stated Santosh Ladha, Managing Director of the Company, commenting on the company’s performance.

Iris Clothings is a fast-growing readymade garment company that is primarily engaged in designing, manufacturing, branding, and selling garments for kids wear under its brand name DOREME in India.

The Company delivers a broad range of affordable and good-quality apparel for infants, toddlers, and children in their pre-teens, serving both their indoor and outdoor requirements.

It has been in operations for over 17 years and continues to add new product lines by employing the best-in-class technology across its value chain.

Iris clothing was last seen at Rs 200.90, up by Rs 2.55 or 1.29% since its previous closing price of Rs 198.35.

**The statistics mentioned in the above articles have been sourced from India Infoline & The Economic Times

CREDITS: India Infoline ET

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