Purple Style Labs reports revenue growth and narrowed quarterly losses
Luxury retailer Purple Style Labs recorded a 31% year-on-year revenue increase for the second quarter, while reducing its net loss to ₹68.3 Cr.
Purple Style Labs, the parent company of Pernia’s Pop-Up Shop, reported improved financial results for the quarter ending September. The company narrowed its consolidated net loss by 12.9% year-on-year to ₹68.3 Cr, down from ₹78.4 Cr in the same period last year.
Operational revenue reached ₹142.1 Cr, marking a 30.7% increase compared to the previous year. When including other income of ₹3.9 Cr, total income for the period stood at ₹146 Cr. The company noted a 22.5% reduction in net loss on a sequential basis, improving from the ₹88.1 Cr loss recorded in the preceding quarter.
Despite the revenue growth, total expenditures rose by 36.9% to ₹211.2 Cr. The company disclosed an exceptional expense of ₹3.1 Cr, which was attributed to employee stock option grants and regulatory fees related to capital increases within its subsidiary units. Following these adjustments, the total comprehensive loss reached ₹69.3 Cr.