Campus Activewear reported a flat net profit of Rs 31 crore ($3.8 million) for the first quarter ended June 30, as against Rs 31 crore in the year-ago period.
The company’s revenue for the quarter rose by 5 percent to Rs 354 crore, as against Rs 338 crore in the corresponding quarter of the previous fiscal year.
Commenting on the results, Nikhil Agarwal, CEO of Campus Activewear in a statement said, “Campus Activewear registered 4.8 percent revenue growth year-on-year to Rs 354 crore in Q1 FY24 despite subdued demand witnessed across the rural and semiurban areas. The company continued its premiumisation journey through new product offerings & enhancing its retail footprint in new geographies.”
“We are judiciously investing in the brand building exercises across omnichannel platform. We will continue our planned investments towards brand building, D2C network infrastructure expansion and talent acquisition which is key to our growth in the coming quarters. These investments are expected to generate margin accretive impact in future,” he added.
Campus Activewear claims to be India’s largest sports and athleisure footwear brand in terms of value and volume with 17 percent market share in the branded sports and athleisure footwear industry.
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