Footwear major Khadim India Ltd reported a 76 percent decline in net profit to Rs 1 crore ($1,20,057) for the fourth quarter ended March 31, as against Rs 4 crore in the year ago quarter.
The company’s revenue for the quarter was down by 10 percent to Rs 144 crore, as against Rs 159 crore in the previous quarter ended March 2023.
For the financial year 2024, the company’s net profit witnessed a 64 percent year-on-year decline to Rs 6 crore on a revenue of Rs 615 crore.
“Our net profit for the quarter and FY 2024 decreased mainly on account of one-time profit earned on disposal of immovable properties last year,” the company said in its earnings report.
“Store network has grown by addition of 94 retail stores as on FY24, taking the total retail presence to 868 stores. Our distribution network continues to grow strong as we added 81 distributors as on FY24, taking total count to 753,” it added.
The Kolkata-based Khadim India Ltd is one of the largest footwear retailers in lndia in terms of exclusive stores. It currently has 846 retail stores, and the distribution vertical has a strong network of 700 distributors.
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