Hit enter to search or ESC to close
Q2 FY24 Revenue at Rs. 322 Million; up 33% QoQ, Q2 FY24 EBITDA margin at 24%
Howrah (India), November 8: Iris Clothings Limited (NSE: IRISDOREME), a readymade garment company engaged in designing, manufacturing, branding, and selling garments for kids wear, announced their financial results for the Second quarter and Half year ended September 30, 2023.
Commenting on the Company’s performance Mr. Santosh Ladha, Managing Director of the Company said “I am pleased to share that we inaugurated our first Exclusive Brand Outlet (EBO) in the quarter gone by, followed by another store last month. As per our expansion strategy, that was shared a few months ago, we consider EBOs to be the third leg of expansion. Both these stores are doing extremely well and have received a significant boost due to the ongoing festive season. We have three more EBOs in pipeline that will be inaugurated in West Bengal in the coming quarters.
Our Disney designed apparels are receiving good traction as well. Along with this, we continue to see infant wear gaining traction and expect this vertical to contribute 15-20% in FY24.
We continued to expand our footprint and onboarded seven new distributors, strengthening our presence in Maharashtra and West Bengal, alongside entering Nagaland.
Our revenues increased marginally, driven by volume uptick but offset by impact on price. We expect strong performance in H2 FY24 driven by strong demand and improvement in average sale price through product enhancements on various levels.”
(in Rs. Million, unless otherwise mentioned)
About Iris Clothings Limited
Iris Clothings Limited 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 apparels 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. For more information view www.irisclothings.in and www.doreme.in.
If you have any objection to this press release content, kindly contact email@example.com to notify us. We will respond and rectify the situation in the next 24 hours.
About the author