See the bright Sun: Aditya Vision

3QFY23
Operational Revenue increased by 21% YoY to Rs 317.9Crs.
PAT increased by 21% YoY to Rs 19.5Crs.
9MFY23
Operational Revenue increased by 59.1% YoY to Rs 1,015.9 Crs
PAT increased by 111.9% YoY to Rs 57.4 Crs

Commenting on the performance for Q3 FY23, Mr. Yashovardhan Sinha, Chairman and Managing Director, Aditya Vision, said:
“Your company finished Q3 with a growth of 21% in revenues and a growth of 21% in profits. For the 9M period, net revenue grew by 59% and profits have grown by 112%. We believe our core markets have continued to grow ahead of the consumer durables industry in the country. This strong growth reflects sustained consumer demand, driven by increased penetration of consumer durables and supported by excellent execution from our committed team.

We have opened our 96th store, taking the store addition in FY23 to 17 as on date on a base of 79 stores in FY 22. This strong store addition reflects our continued commitment to provide a world class shopping experience to our consumers and to deepen our retail presence in our target markets of the Hindi heartland. We have so far opened 14 stores in Jharkhand in 11 major districts. By Q3 FY 2023, Jharkhand stores have started contributing 10% to our revenues. After a successful debut in Jharkhand, we are in the process of expanding our presence into targeted areas of Uttar Pradesh. I am excited to share with you that we have started our Uttar Pradesh expansion program sooner than initially planned and have already finalized few locations in Uttar Pradesh, moving closer to our goal of opening 150 Stores by FY 2025 following a Hindi heartland specific cluster-based expansion strategy. While we are expanding into newer geographies of Jharkhand & Uttar Pradesh, we are also opening 2000 – 3000 sq feet stores in Bihar in big sub divisional towns between districts. These stores will further fortify our leadership position in Bihar and brings us closer to our valued customers. These stores operate on an expense light model which will further contribute to the profitability of your company.