Khadim India’s Q2 net profit drops 22 percent to Rs 5 crore

By

Maverick Martins

Published
Nov 15, 2022

Footwear maker Khadim India Ltd’s witnessed a 22 percent decline in net profit to Rs 5 crore ($6,16,584) for the second quarter ended September 2022, as against net profit of Rs 6 crore in the year-ago period.

The company’s revenue for the quarter rose by 15 percent to Rs 186 crore, as against Rs 162 crore reported in the corresponding period of the previous fiscal year.

Commenting on the results, Namrata A Chotrani, CEO of Khadim India Ltd in a statement said, “The first festive season without the long shadow of the pandemic saw buoyant consumers with a propensity to spend higher than average. This has stimulated the business growth and helped us record a healthy number this quarter. Our premium product portfolio with affordable pricing has received significant consumer response, we will continue to build on the same which will appeal to our target audience.”

“We are continuing the expansion of our retail stores that enable us to penetrate in our target markets to equip the people with affordable fashion footwear and continue our growth momentum,” she added.

During the July-September quarter, the company added 33 stores in tier 2, 3 cities across India taking the store tally to 826.