Mr. Sunil Agrawal
(Managing Director)
Jaipur, January 30, 2024: Vaibhav Global Limited (VGL), a global E-tailer of Fashion Jewellery, Lifestyle Products, Apparels, and Accessories on TV and Digital Platforms, announced its financial results for the third quarter ending December 31, 2023.
Q3 FY24 performance overview
(Managing Director)
Vaibhav Global Limited (VGL) is listed on stock exchanges in India (BSE: 532156, NSE: VAIBHAVGBL, ISIN - INE884A01027). VGL is an omni-channel E-tailer of fashion jewellery, accessories, and lifestyle products in developed markets with direct access to ~139 million households (FTE) through its TV home shopping networks – Shop LC in US, Shop TJC in UK and Shop LC in Germany. The Company’s ecommerce websites www.shoplc.com in the US, www.tjc.co.uk in the UK and www.shoplc.de in Germany, complement TV coverage and diversify customer engagement. The Company is committed to ‘Delivering Joy’ to all the stakeholders. Through its flagship midday meal program, ‘Your Purchase Feeds…’ where a meal is provided for every piece sold at the retail channels, the Company has provided over 84 million meals in US, UK, Germany, and India at a run rate of ~66,000 meals being donated every school day since program’s inception.
Commenting on the performance for Q3 FY24 Mr. Sunil Agrawal, Managing Director, Vaibhav Global Limited, said,
Strong operational performance with revenue growth of 23% YoY. Better gross margins along with operating leverage led to improved profitability margins. We reiterate our guidance of 13% to 15% topline growth in FY24 and high teen range in FY25 with decent operating leverage.
Having achieved market leading growth, we are optimistic about our prospects and believe that the outlook remains promising and compelling.
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