India's Go Fashion down after Q4 profit falls

Go Fashion (India)

03/05/2024 10:02

** Shares of Go Fashion (India)  GOFA.NS  down 2.4% at
1,032.20 rupees 
    ** Apparel retailer posts near 12% Y/Y fall in Q4 profit
after tax; rev from operations up 15.3% 
    ** EBITDA margin contracts to 29.7% from 31.5% a year
earlier 
    ** Retail industry is seeing a temporary decline in demand
due to higher inflation and changing spending patterns - Go
Fashion 
    ** GOFA touches lowest level since March 29, 2023
    ** Still, analysts rate stock "strong buy"; median PT
1,359.50 rupees - LSEG data
    ** More than 213,000 shares change hands as of 2:29 p.m.
IST, 2.9x 30-day average
    ** Including session's move, stock down 17.4% YTD





 (Reporting by Navamya Ganesh Acharya in Bengaluru)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))