Global fashion-solution provider PDS Ltd. reported revenue from operations dipped 2% in FY24 to ₹10,373 crore.
Gross profit for the year climbed 19% to ₹2,111 crore in FY24. However, profit after tax plunged 32%. A press release from the company said revenue from operations rose from ₹2,742 crore in the third quarter of FY24 to ₹3,215 crore in the last quarter of the year.
Despite facing headwinds such as demand pressures, macro economic factors and geo political conflicts, the core business remained resilient. In anticipation of the forthcoming recovery, operational expenses remained consistent. However, elevated interest rates resulted in higher interest costs. Additionally, opportunities emerged within the retail sector due to consolidation, prompting PDS to strategically invest in new verticals and teams, the firm said.
Published - May 15, 2024 08:14 pm IST
