Khadim India posts Q4 net profit of Rs 3 crore

By

Maverick Martins

Published
May 25, 2022

Footwear major Khadim India reported a net profit of Rs 3 crore ($387,307) for the fourth quarter ended March 2022, as against a net profit of Rs 11 crore it reported in the year-ago period.

The company’s revenue for the quarter was down by 41 percent to Rs 159 crore, as against Rs 273 crore it posted in the corresponding period of the previous fiscal year.

For the financial year 2021-22, the company reported a net profit of Rs 6 crore while its revenue for the year stood at Rs 607 crore.

The company in its earnings report said that the drop in revenue and profit was due to the Covid-19 disruptions caused during the first half of the year.

However, Khadim witnessed a strong revival in sales over the last two quarters and expects the growth momentum to continue going forward on the back of its retail expansion.

During the year, Khadim expanded its presence across the country to take its store count to over 780 and plans to further strengthen its retail presence during the current financial year.