Relaxo Footwears Q3 net profit slumps 14 percent to Rs 33 crore

Relaxo Footwears Ltd reported a 14 percent fall in net profit to Rs 33 crore ($3.8 million) for the third quarter ended December 2024, as against Rs 39 crore in the year ago quarter.

The company’s revenue for the quarter was down by 6 percent to Rs 667 crore, as against Rs 713 crore in the corresponding quarter of the previous fiscal year.

Commenting on the results, Ramesh Kumar Dua, chairman managing director of Relaxo in a statement said, “Given the overall weak consumer demand, particularly in the mass and value segments, the company’s continued focus has been to revamp the distribution system. The introduction of the Relaxo Parivaar app has not only helped us to increasingly streamline our network of distributors and retailers but is also setting the stage for the future expansion of this network.”

“We believe this effort, while exhibiting short term pain over the last few quarters in terms of decline in volumes, is slowly getting accepted by all business partners. We expect our distribution system to stabilise over the next 2-3 quarters and are hopeful that the results will begin to show post that,” he added.

Relaxo is one of the leading footwear makers in India with brands like Sparx, Flite, and Bahamas. It currently has over 400 exclusive brand outlets across the country.