Timex Group India Q4 net profit down 30 percent to Rs 5 crore
Timex Group India Limited net profit for the fourth quarter was down 30 percent to Rs 5 crore ($7,12,400) as against Rs 8 crore it has reported in the corresponding quarter of the last fiscal.
The company’s net sales during the quarter were up 6 percent to Rs 58 crore as compared to Rs 55 crore it has posted during the same period last fiscal.
Timex EBITDA was at 6 crore in March 2019 down 28 percent from Rs 9 crore in March 2018.
“The company has been delivering growth in revenue with improved operational efficiency from the past four years and in the current year as well. The company expects growth in its operations in coming years with continuous improvement in the operational efficiency,” Timex said in a statement.
Going forward, Timex expects strong sales from the Indian market and has recently strengthened its leadership team by appointing Ajay Dhyani as marketing head and Manoj Joshi as sales head.
Timex will focus on retail expansion and distribution network during the current fiscal year and will also be investing heavily on marketing to boost sales in the Indian market.
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