Rupa & Co posts Q4 net profit of Rs 18 crore

By

Maverick Martins

Published
May 25, 2023

Rupa & Co Ltd recorded a 61 percent drop in net profit to Rs 18 crore ($2.2 million)) for the fourth quarter ended March 2023, as against Rs 49 crore in the year-ago period.

The company’s total income for the quarter was down by 10 percent to Rs 411 crore, as against Rs 460 crore in the Jan-March quarter of the previous fiscal year.

For the full financial year, the company recorded a net profit of Rs 53 crore with a total income of Rs 1,159 crore.

“The year in review has been a challenging year for the industry, witnessing steep volatility in raw material prices which were on increasing trend at the start of the year and then gradually declined steeply. This phenomenon led to destocking at distributor level throughout the year,” Rupa & Co management said in its presentation to investors.

“We remain focused on enhancing operational efficiency, expanding our market reach, and capitalizing on emerging opportunities to drive sustainable growth and create long-term value for our stakeholders,” it added.

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