Baazar Style Retail slipped 3.22% to Rs 370.15 after the company’s consolidated net loss stood at Rs 0.42 crore in Q1 FY25 as against with net profit of Rs 5.52 crore posted in Q1 FY24.
Revenue from operations stood at Rs 275.79 crore in Q1 FY25, up 21.13% as compared with Rs 227.68 crore posted in Q1 FY24.
The company posted a pre-tax loss of Rs 0.64 crore in Q1 FY25 as compared with a profit before tax of Rs 7.62 crore posted in Q1 FY24.
Total expenses jumped 21.30% YoY to Rs 268.81 crore in Q1 FY25. Purchase of stock in trade was at Rs 95.55 crore (down 3.70% YoY) and employee benefit expenses stood at Rs 23.33 crore (up 28.25% YoY).
Meanwhile, the company has granted an unsecured loan to its wholly owned subsidiary, Konnect Style Retail amounting to Rs 50 lakh.
This financial assistance is aimed at supporting the subsidiarys operational and strategic initiatives. The loan agreement is executed on 25 September 2024, outlining the terms and conditions under which the loan will be disbursed and repaid.
Baazar Style Retail is a value fashion retailer with leadership position in the States of West Bengal and Odisha in organized value retail market. The Company offer quality and affordable products under the apparels and general merchandise segments, through a chain of ‘value retail’ stores. Within the apparels vertical, it offer garments for men, women, boys, girls and infants, whereas the general merchandise offerings include both non-apparels and home furnishing products.
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First Published: Sep 25 2024 | 3:01 PM IST
