Kewal Kiran Clothing Q3 net profit down six percent to Rs 11 crore
Apparel and denim maker, Kewal Kiran Clothing Ltd, reported a six percent decline in its net profit to Rs 11 crore ($1.5 million) in the quarter ended December 2020, as against Rs 12 crore it reported in the corresponding quarter last year.
The company’s revenue for the quarter under review declined by six percent to Rs 118 crore, as against Rs 126 crore during the previous quarter ended December 2019.
“The outbreak of Covid-19 across the globe and in India has resulted in pandemic requiring unprecedented steps to combat it. Consequent to the nationwide lockdown imposed by the Central Government from March 23, 2020, to prevent the spread thereof, the company had to shut down its factories stores and all its operational activities across its locations, impacting the business during the quarter,” Kewal Kiran said in a statement.
“Significant decline in the economic activity of the whole nation and the disruption created across the businesses has affected the operations of the company as well, the impact whereof would evolve around the developments taking place in forthcoming months,” it added.
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 sells on leading e-commerce platforms in India.
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