Dollar Industries Ltd Q1 net profit down 7 percent to Rs 13 crore
Dollar Industries Ltd reported poor results for the first quarter due to a slowdown in sales, which resulted in a drop in the net profit for the quarter.
The company’s net profit during the April-June period dropped by 7 percent to Rs 13 crore ($1.8 million), as compared to Rs 14 crore it had reported in the corresponding period last fiscal.
Dollar Industries sales revenue was down 4 percent to Rs 234 crore, as against Rs 244 crore it had reported during the period ended June 30, 2018.
Men’s innerwear was the highest contributor with 89 percent to the company’s overall revenue, with women’s innerwear and casual wear adding 9 percent to the revenue.
The company’s popular brands like Dollar Bigboss and Dollar Missy performed exceedingly well, adding 47 and 9 percent to the revenue, respectively.
To further strengthen its presence in the Indian market, Dollar will be venturing into new retail formats like large format stores, e-commerce, and also open exclusive brand outlets going forward to boost sales.
Dollar Industries has a strong retail presence in all states across India and is currently present in more than 95,000 multi-brand outlets. The company also sells through its online portal and some e-commerce sites in India.
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