Liberty Shoes Ltd Q4 net profit down 22 percent to Rs 1.35 crore
today May 27, 2019
Indian footwear maker Liberty Shoes Ltd net profit for the fourth quarter dropped by 22 percent to Rs 1.35 crore ($1,93,974) as against Rs 1.72 crore it had reported during the previous quarter ended March 2018.
The company’s sales revenue jumped 8 percent to Rs 144 crore during the quarter as against Rs 133 crore it reported during the previous quarter.
For the fiscal year 2018-19, Liberty’s net profit rose 4 percent to Rs 6.84 crore as against Rs 6.60 crore it had reported during the previous year. Revenue of the company rose 11 percent to Rs 602 crore as against Rs 544 crore it posted last year.
Liberty Shoes has planned massive expansion during the current financial year and will be adding 50 new stores across the country with an aim to generate annual revenue of Rs 1,000 crore by 2020.
Liberty Shoes currently has a total of 400 flagship stores across India and is present in over 5,000 multi-brand outlets and also retails from its own e-commerce store.
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