Kewal Kiran Clothing Ltd Q3 net profit drops 9 percent to Rs 12 crore
Apparel and denim maker, Kewal Kiran Clothing Ltd witnessed a 9 percent drop its net profit to Rs 12 crore ($1.8 million) for the third quarter ended December 31, 2019, as against Rs 13 crore it had reported for the period ended December 31, 2018.
The company’s net sales for the October-December quarter rose by 11 percent to Rs 132 crore, as compared to Rs 119 crore it had reported in the year-ago period.
Overall for the 9 months period ended December 31, 2019, Kewal Kiran saw an 8 percent rise in net sales to Rs 417 crore, as compared to Rs 385 crore it reported in the last financial year.
The company’s net profit, however, dropped 5 percent 57 crore for the April-December period, as against Rs 60 crore it had reported last fiscal.
Kewal Kiran owns brands like Killer, Integriti, LawmanPg3, Easies, and Desi Belle. The company currently has 336 retail stores 210 cities across 25 states and also sells on leading e-commerce platforms in India.
Despite the economic slowdown, the company has been rapidly expanding its retail presence across the country for all its brands and plans to add over 500 small-format stores over the next five years.
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