Rupa and Co Q3 net profit slumps 91 percent to Rs 6 crore

By

Maverick Martins

Published
Feb 14, 2023

Rupa and Company Ltd witnessed a 91 percent decline in net profit to Rs 6 crore ($724,803) for the third quarter ended December 2022, as against Rs 58 crore reported in the year-ago period.

The company’s revenue for the quarter was down by 46 percent to Rs 236 crore, as against Rs 433 crore posted in the corresponding period of the previous fiscal year.

Despite the poor performance in Q3, Rupa and Co is optimistic of posting strong numbers in the coming quarters and expecting its revenue to grow 5 times by FY 24 from FY 22 revenue of Rs 33 crore.

“The company will roll out 150 more exclusive brand outlets in the next 2 years. Focus on new emerging markets to double current exports and increase share in the premium category,” Rupa and Co said in its earnings report.

Additionally, Rupa also plans to launch in the global online market of UAE via Amazon and increase brand presence across 1000 plus point of sales in next 2 years.

Rupa & Company Limited is one of the largest knitwear brands in India that produces innerwear, casual wear, thermal wear, and sleepwear for men, women, and kids.