Consolidated profit before tax grew 18.1% to Rs 201.95 crore in the quarter ended 31 December 2022 as against Rs 170.96 crore reported in the same period a year ago.

Total expenses advanced 10.8% year on year to Rs 249.46 crore in Q3 FY23. Cost of raw material used stood at Rs 38.52 crore (up 9.4% YoY) while employee benefit expenses was at Rs 15.28 crore (down 14.68% YoY).

Vedant Fashions is primarily engaged in manufacturing, trading and sale of readymade ethnic wear for men, women and kids primarily in India under the brand names Manyavar, Mohey, Mebaz, Twamev and Manthan.

The scrip advanced 1.63% to settle at Rs 1,159 on Friday, 27 January 2023.