Khadim India reports Q4 net loss of Rs 20 crore

By

Maverick Martins

Published
Jul 20, 2020

Footwear major Khadim India Ltd reported a net loss of Rs 20 crore ($2.7 million) for the fourth quarter ended March 2020, as against a net profit of Rs 1 crore during the previous quarter ended March 2019.
 

The company’s sales for the quarter declined 23 percent to Rs 158 crore in the quarter, as against Rs 207 crore it reported in the corresponding quarter last year.
 
For the financial year 2019-20, Khadim’s net loss stood at Rs 31 crore, as against a net profit of Rs 21 crore during the previous year, while its revenue declined 3 percent to Rs 772 crore, as against Rs 799 crore it posted in the last fiscal.

“Consequent to the nationwide lockdown announced by Government of India due to Covid-19, the company had been adversely impacted, by way of temporary closure of its manufacturing and sales operations pan India,” the company said in its earnings statement.
 
Khadim India manufactures and retails footwear under its flagship brand, Khadim’s. The brand now has over 800 retail outlets across India and also sells its products through its e-commerce site and other online platforms.