Relaxo Footwear Q2 net profit jumps 77 percent to Rs 71 crore

By

Maverick Martins

Published
Nov 4, 2019

Indian footwear major Relaxo Footwear has reported a 77 percent jump in its net profit to Rs 71 crore ($10.1 million) for the second quarter ended September 30, 2019, as against Rs 39 crore it had reported in the year-ago period.
 

The company’s revenue for the quarter jumped 13 percent to Rs 623 crore as against Rs 549 crore it had reported in the corresponding quarter last fiscal.
 
Relaxo attributed the rise in profit and revenue to premiumisation, product mix and price increase in selected categories.

Commenting on the results and performance, Ramesh Kumar Dua managing director at Relaxo Footwear in a statement said: “We are happy to report that our strong execution and customer-centric strategy has helped us achieve a 15 percent topline growth during the first half of the FY20. Despite the challenging economic environment, growth has been broad-based across all our categories. Our margin performance reflects the measures taken towards better cost efficiencies.”
 
“We will strive to deliver growth by expanding our product offerings in existing markets and also by penetrating into newer geographies. Our focus is on enhancing our brands, strengthening our supply chain and improving operational efficiencies,” Dua added.
 
Relaxo sells under brands Sparx, Flite, and Bahamas. It currently has 300 exclusive brand outlets across the country.