Nandani Creation Ltd Posts 149 Percent Profit Surge in Q4 FY2024

Nandani Creation Ltd Posts 149 Percent Profit Surge in Q4 FY2024

Dil Bar Irshad | May 23, 2024 | 05:56 PM IST | Breaking News | Follow on Google News

Nandani Creation Ltd Posts 149 Percent Profit Surge in Q4 FY2024

Nandani Creation Ltd Posts 149 Percent Profit Surge in Q4 FY2024

Key Highlights:

• Net profit soared by 149.09% to Rs 2.7 crore.
• Sales increased by 84.29% to Rs 19.59 crore.
• Average Selling Price rose by ~50% to Rs 1250.

Jaipur (Rajasthan) [India], May 23: Nandani Creation Ltd (NCL), a prominent Jaipur-based fashion company known for its women’s Indian wear brands ‘Jaipur Kurti’, ‘Amaiva’ by Jaipur Kurti, and ‘Desi Fusion’, has reported outstanding financial results for Q4 FY2024.

For the fourth quarter ended March 2024, NCL’s consolidated net profit surged by an impressive 149.09% to Rs 2.7 crore, compared to Rs 1.10 crore in the same period last year. Sales saw significant growth, climbing 84.29% to Rs 19.59 crore from Rs 10.63 crore in the corresponding quarter of the previous year.

The company’s strategic efforts towards brand premiumization resulted in a notable 50% increase in Average Selling Price (ASP) to Rs 1250 in FY24, up from Rs 850 in FY23. Additionally, NCL has strengthened its sales channels, with 30% of sales now coming from its own platforms, including retail stores and the website www.jaipurkurti.com. This shift has enabled better negotiation terms and enhanced presence in high-performing marketplaces.

Nandani Creation has revitalized its online sales channel to meet the evolving needs of its customers, maintaining a robust omni-channel presence. Investments have been made in expanding the retail footprint through new stores and a store-in-store (SIS) model. Noteworthy steps include launching a mobile app to reach new markets and opening new Exclusive Brand Outlets (EBOs).

Mr. Anuj Mundhra, Chairman & Managing Director, commented on the resilient performance despite challenges such as subdued customer demand and high inflation. The company anticipates that the upcoming peak season will catalyze further growth, supported by its expanding retail portfolio and strategic business plan.

Nandani Creation plans to extend its retail presence into southern and eastern regions and leverage its mobile app to reduce customer acquisition costs and enhance engagement.

About Nandani Creation Ltd.:
Founded in 2012, Nandani Creation Ltd. offers women’s Indian wear under ‘Jaipur Kurti’, ‘Desi Fusion’, and ‘Amaiva’. With a strong online presence and 13 retail stores, the company continues to grow its footprint in the competitive fashion market.

Follow Nandani Creation on Social Media:

• Facebook: www.facebook.com/jaipurkurti
• YouTube: www.youtube.com/@jaipurkurtiofficial
• Instagram: www.instagram.com/jaipurkurti/
• Pinterest: in.pinterest.com/jaipurkurti/

Source: PRNEwsWire

Dil Bar Irshad

Dil Bar Irshad is a seasoned journalist, hails from Jammu Kashmir's Doda, covers political, social, business stories, index stories.