Kewal Kiran Clothing Limited (KKCL) witnessed a 56 percent rise in net profit to Rs 34 crore ($4.2 million) for the quarter ended June 30, as against Rs 22 crore posted in the year-ago period.
The company’s revenue for the quarter grew by 15 percent to Rs 178 crore, as against Rs 154 crore reported in the corresponding period of the previous fiscal year.
Commenting on the results, Kewalchand P Jain, chairman managing director of Kewal Kiran in a statement said, “I am happy to inform you that Q1FY24, has reflected upon the positive trends of our ongoing growth initiatives. The company emerged stronger in a challenging environment exhibiting robust resilience as we saw strong performance with volume and sales growth with consistent margins.”
“We are confident that we are on the right path to execute the growth strategy. Our robust distribution model is well supported by the drive for expansion of product categories backed by in-house manufacturing capabilities which has assisted us emerge stronger and be more committed to pursuing sustainable and profitable growth while catering to the rising demand,” he added.
During the April-June period, the company opened 27 exclusive brand outlets to take its count to 454 as of June 30, 2023. It plans to open 50 more outlets in coming months.
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