Campus Activewear Ltd Q4 net profit jumps 43 percent to Rs 33 crore

Footwear maker Campus Activewear Ltd reported a 43 percent rise in net profit to Rs 33 crore ($4 million) for the fourth quarter ended March 31, as against Rs 23 crore in the year ago quarter.

The company’s revenue for the quarter grew by 5 percent to Rs 364 crore, as against Rs 348 crore in the corresponding quarter of the previous fiscal year.

For the financial year 2024, Campus Activewear reported a net profit of Rs 89 crore with a sales revenue of Rs 1,448 crore.

Commenting on the results, Nikhil Agarwal, CEO of Campus Activewear in a statement said, “We would like to perceive FY24 as a transitionary year. Campus Activewear made a strong comeback in H2FY24 with vigoured focus on trade distribution and new launches. The Company was successful in grabbing customer’s mindshare and wallet share from its prudent investment in the brand for its R&D enabled products.”

“Despite of challenging business environment, we remained committed to strengthen our balance sheet. The Company repaid its borrowing of Rs156 crore in FY24, thereby achieving net-debt free status during FY24,” he added.

During the financial year, the company expanded its geographical footprints by adding 66 stores in western, southern, and eastern states of India taking the total store count to over 250.