Liberty Shoes Q2 net loss narrows to Rs 11 lacs
Footwear major Liberty Shoes Ltd managed to narrow its net loss to Rs 11 lacs ($14,768) for the second quarter ended September 2021, as against a net loss of Rs 1.62 crore it reported in the year-ago period.
The company’s revenue for the quarter rose by 15 percent to Rs 112 crore, as against Rs 97 crore it reported in the corresponding period of the previous fiscal year.
Liberty Shoes attributed the narrowing of its net loss to strong sales ahead of the festive season and expects to have a strong third quarter on the back of festive and wedding season sales.
With the lifting of restriction with regards to Covid-19 across the country, Liberty stores are fully operational with increased footfalls resulting in higher revenue over the last few months and it expects the trend to continue in the coming quarters.
Liberty Shoes currently has a total of over 400 flagship stores across India and is present in over 5,000 multi-brand outlets. It also retails from its e-commerce store.
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