Rupa & Company Ltd reports Q4 net loss of Rs 4 crore
Knitwear maker Rupa & Company Ltd reported a net loss of Rs 4 crore ($5,29,706) for the fourth quarter ended March 2020, as against a net profit of Rs 27 crore it had reported in the corresponding period last year.
The company’s revenue for the quarter was down 55 percent to Rs 182 crore, as compared to Rs 403 crore during the period ended March 31, 2019.
For the financial year 2019-20, the company revenue slumped 15 percent to Rs 982 crore, as compared to Rs 1,151 crore it posted in the previous fiscal.
The company’s net profit for the year decreased by 17 percent to Rs 62 crore, as against Rs 74 crore it had reported during the last financial year.
“The Covid-19 pandemic has severely disrupted regular business operations due to lockdowns and other emergency measures. As a result, the volumes for the month of March 2020 have been impacted,” the company said in its earnings report.
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.
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