Lehar Footwears Ltd Q4 net profit jumps to Rs 2 crore

By

Maverick Martins

Published
May 25, 2023

Lehar Footwears Ltd witnessed a huge rise in net profit to Rs 2 crore ($2,41,714) for the fourth quarter ended March 2023, as against Rs 5 lacs reported in the year-ago period.

The company’s total income for the quarter rose to Rs 51 crore, as against Rs 30 crore in the corresponding period of the previous fiscal year.

For the financial year 2023, the company’s total income was Rs 203 crore with a net profit of Rs 5 crore.

Commenting on the results, Raj Kumar Agarwal, managing director at Lehar Footwears Ltd in a statement said, “I am pleased to report that on back of our robust capabilities we were able to deliver a strong performance in FY 2022-23. Our performance was driven by operational improvement because of lean manufacturing practices, selecting the right set of business, cost optimization, and increase in productivity.”

“Our strategic initiatives regarding new product development, branding & promotion and exports will fuel our growth engine going ahead. We are focused on deploying consistent efforts towards introduction of newer product designs as well as extension of our core products,” he added.

Founded in 1995, Lehar Footwears is a regional mass-footwear manufacturer with a production capacity of 2 crore pairs per year. The company also exports footwear to Asian, African and Middle East nations.