Uncategorized

PDS Multinational Fashions reports 18% revenue growth in Q2 FY22

PDS Multinational Fashions Ltd, a contract development and manufacturing services provider to brands and retailers globally, on Wednesday said it has recorded an 18% year-on-year growth in its revenue to ₹2,195 crore for the quarter ended 30 September.

The company reported a profit of ₹67 crore in Q2 FY22 as against a profit of ₹18 crore in the corresponding period last year. Earnings before interest, tax, depreciation and amortization (Ebitda) was ₹84 crore in the September quarter, compared to ₹35 crore last year.

Sanjay Jain, Group CEO, PDS Multinational Fashions Ltd said, “We are truly excited to have reported our strongest quarterly performance in the last 5 years with a topline of ₹2,195 crores. In line with our strategy to expand beyond the predominant markets of UK and Europe, we have deepened our presence in the North American markets with H1 FY22 achieving ~90% of full year FY21 sales.”

“PDS is leveraging its robust platform to propel into the next growth phase. On one hand, we are strategizing the way forward through unlocking potential in untapped geographies & categories, building teams, collaborating with marquee customers, increasing wallet share of existing customers and strengthens the vendor network. On the other hand, we are transforming from being just a “fashion” company to a truly digital platform providing ESG compliant end-to-end solutions with sustainability at its core,” Jain added.

Pallak Seth, vice of the company, said “Being a truly global enterprise, we persistently endeavour to further strengthen the platform. As a step in this direction, we are also pleased to welcome Mr. Mungo Park and Mr. Robert Sinclair on the Board of Directors who bring along decades of global experience, enriching the PDS platform. Moreover, PDS is consciously working towards circularity. We are happy to announce that PDS is now a member of the Sustainability Apparel Coalition (SAC), a global, multi-stakeholder non-profit alliance for the fashion industry.”

Subscribe to Mint Newsletters * Enter a valid email * Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint.
Download
our App Now!!


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
%d bloggers like this: