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Khadim India net profit drops to Rs 4.81 crore in Q3 FY 2023, Retail News, Retail ET


Khadim India net profit drops to Rs 4.81 crore in Q3 FY 2023

New Delhi: Indian khadimretail Footwear brands, on Monday reported a decline in consolidated net profit to Rs 4.82 crore for the third quarter ended December 31 of this financial year compared with a profit of Rs 8.20 crore in the same period. previous financial period, according to a BSE filing.

The company’s operating revenue fell 19% year-on-year (YoY) to Rs 148.95 in the third quarter of fiscal 2023 from Rs 185.04 in the same prior fiscal period, according to the filing. regulations.

According to the brand, recognition of good demand with the introduction of trendy and high-end product lines has boosted sales momentum during the festive season.

The company’s retail and distribution expansion plan contributed to the desired results.

Comment on the result Indrajit ChaudhuriThe company’s chief financial officer said, “The company has achieved steady growth across both its business areas – retail and distribution over the nine-month period of its current financials.”

Besides, to penetrate more into the target markets, the company continued to expand its retail reach by opening 15 stores during the quarter, bringing the total number of stores to 838 across India.

The locally developed company’s light asset expansion strategy further strengthens its retail presence in target markets and tier II & III locations.

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