RedTape Q1 Results Total Revenue Rs. 441.89 Crores & Operating Income Rs. 49.62 Crores

RedTape Q1 Results: In Redtape's Q1 results, the company's performance shows a mix of changes when comparing different periods. Year-over-year (YoY) figures show how the company performed in the current quarter compared to the same quarter last year, while quarter-on-quarter (QoQ) figures compare this quarter to the previous one.

RedTape’s Total revenue in June 2024 was Rs441.89 crores, up 12.22% YoY from June 2023 but down 12.82% QoQ from March 2024. This indicates that while the company earned more revenue than last year, it saw a decrease compared to the previous quarter. Selling, general, and administrative expenses rose dramatically by 116.36% YoY, which means these costs increased significantly compared to the same quarter last year. However, compared to the previous quarter, these expenses increased by 6.98%.

RedTape’s Operating income decreased by 27.33% YoY, meaning the company's profit from its core business dropped compared to last year. The net income, or profit after all expenses, fell by 34.44% YoY, reflecting a significant decline in profitability over the year. The diluted normalized earnings per share (EPS) also dropped by 34.25% YoY, showing that shareholders earned much less per share compared to last year. 

Here's a simplified overview of Redtape's Q1 results:

(Values in Rs.)

RedTape Q1 Results

RedTape’s standalone revenue from operations was ₹4,406 lakhs for the quarter ending June 30, 2024, which is an increase from the ₹3,9265 lakhs reported for the same quarter in the previous year. The consolidated revenue was ₹44,189 lakhs. The total income, combining revenue and other income, was ₹4,639 lakhs for the standalone and ₹46,324 lakhs for the consolidated figures. Expenses for the standalone operations amounted to ₹40,160 lakhs, while consolidated expenses were ₹40,269 lakhs. 

Redtape resulted in a profit before tax of ₹4,136 lakhs on a standalone basis and ₹4,155 lakhs on a consolidated basis. The profit for the period, after taxes, was ₹3,051 lakhs for standalone and ₹3,064 lakhs for consolidated operations. Total comprehensive income, which includes adjustments for other factors like currency translation, was ₹3,069 lakhs for standalone and ₹3,080 lakhs for consolidated. Earnings per share (EPS) for both basic and diluted measures were ₹2.21 for standalone and ₹2.22 for consolidated results.

For the full year ending March 31, 2024, the revenue from operations was significantly higher at ₹150,429 lakhs (standalone) and ₹50,877 lakhs (consolidated). Total income was ₹50,737 lakhs (standalone) and ₹51,182 lakhs (consolidated). Expenses totaled ₹1,61,735 lakhs for both standalone and consolidated.

Redtape’s profit before tax was ₹22,729 lakhs for both standalone and consolidated figures, with a profit for the period of ₹16,980 lakhs (standalone) and ₹17,624 lakhs (consolidated). Total comprehensive income, including all adjustments, was ₹16,981 lakhs for standalone and ₹17,660 lakhs for consolidated. The EPS for the year was ₹12.29 (standalone) and ₹12.75 (consolidated).

Here’s a simplified and shorter version of the financial summary in table format:

RedTape Stock Performance 

RedTape’s financial table shows important details about the company's stock. The Market Cap of ₹9,913 Crores means the total value of all shares combined. The Current Price is ₹717, which is the price for one share right now. The High / Low shows the highest price of ₹810 and the lowest price of ₹429 over a certain period. The Stock P/E ratio of 61.9 indicates how much investors are willing to pay for each unit of earnings. 

Here is the financial data in table format:

Quarterly Results 

For RedTape, in Dec 2023, sales were high at ₹618 crores, but they dropped to ₹509 crores in Mar 2024 and further to ₹442 crores in Jun 2024. Expenses also decreased from ₹513 crores in Dec 2023 to ₹432 crores in Mar 2024 and ₹373 crores in Jun 2024. Operating profit, which is the money made before taxes, fell from ₹105 crores in Dec 2023 to ₹77 crores in Mar 2024 and ₹69 crores in Jun 2024. Net profit followed a similar pattern, dropping from ₹61 crores in Dec 2023 to ₹41 crores in Mar 2024 and ₹31 crores in Jun 2024. 

Here’s a detailed look at the financial results for Dec 2023, Mar 2024, and Jun 2024:

About RedTape 

RedTape is a well-known fashion and lifestyle brand from India, with over 390 stores across the country. Established 26 years ago, RedTape specializes in footwear, clothing, and accessories for men, women, and children. The brand has become a popular choice for families, offering stylish and high-quality products. RedTape is recognized for its international fashion trends and top-notch quality.

Globally, RedTape has a presence in 17 countries across six continents, including India, the UK, the US, Australia, Turkiye, the UAE, France, Germany, West Asia, and South Africa. The brand has grown significantly both in India and abroad, thanks to its focus on blending online and offline shopping experiences. RedTape’s approach includes strong digital infrastructure and an omnichannel retail strategy, allowing customers to shop seamlessly in stores or online.

RedTape also prioritizes sustainability by incorporating eco-friendly practices into its operations. This includes reducing waste, optimizing resources, and minimizing environmental impact. RedTape is dedicated to delivering excellent fashion and maintaining responsible business practices as it continues to expand its reach and impact globally.