Khadim India net profit declines to Rs 4.81 crore in Q3 FY23 – ET Retail

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New Delhi: Khadim India, a retail footwear brand, on Monday reported a decline in consolidated net profit to Rs 4.82 crore in the third quarter ended December 31 this fiscal as against the profit of Rs 8.20 crore in the same period last fiscal, according to a BSE filing.

The company’s revenue from operations dips 19 per cent year-on-year(YoY) to Rs 148.95 crore in Q3 FY23 as compared to Rs 185.04 crore in the corresponding period of previous fiscal, as per the regulatory filing.

According to the brand, it recorded good demand with the introduction of trendy and premium product lines that boosted the momentum of sales during the festive season.

The company’s plans of scaling up of its retail and distribution presence have contributed towards delivering desired results.

Commenting on the results Indrajit Chaudhuri, CFO of the company said, “The company has achieved steady growth across both its businesses – retail and distribution during the 9months period of the current fiscal.”

Alongside, to penetrate more into the target markets the company continued to expand its retail footprint by opening 15 stores during the quarter that scaled up the total stores to 838 across India.

The asset light model expansion strategy of the home grown company continues to strengthen its retail presence in the target markets and tier II & III locations.

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