Khadim India’s Q2 net profit fell; operating revenue up 15% to Rs 186.03 crore, Retail News, Retail ET
New Delhi: Indian khadimretail Footwear brands, on Monday reported a drop in the consolidated network profit to Rs 5.02 crore in the second quarter ended September 30 of this financial year compared with a profit of Rs 6.47 crore in the same period last financial year, according to a report mad cow disease submit.
However, it turnover from operations grew 15% year-on-year (YoY) to Rs 186.03 in the July-September quarter of this year compared to Rs 161.65 in the corresponding period of the previous financial year, according to the specified documents.
The footwear retailer saw increased demand for its products during the festive season, leading the brand to continue to do healthy business during the quarter.
Namrata A Chotrani, the company’s CEO said: “The first holiday season without the lingering shadow of the pandemic sees consumers buoyed by a trend toward higher-than-average spending. This has stimulated business growth and helped us post a strong number this quarter.”
She added, “Our affordable premium product portfolio has received significant consumer feedback, and we will continue to build on similar product portfolios to engage our audience.” our target.”
The company opened a total of 58 stores across India in the first half of fiscal year 23, of which 33 were opened in the July-September quarter. During this period, with expansion in locations grades II & III through the light asset strategy, its total number of stores has reached 826.
Furthermore, the retailer said it plans to expand its retail stores to penetrate target markets to equip people with affordable fashion footwear and continue the upward momentum. chief.