Relaxo Footwears Ltd reported a 3 percent decline in net profit to Rs 61 crore ($73,08,288) for the fourth quarter ended March 31, as against Rs 63 crore in the same quarter of the previous financial year.
The company’s revenue for the quarter was down by 2 percent to Rs 747 crore, as against Rs 765 crore in the corresponding quarter of the previous fiscal year.
For the full financial year 2024, Relaxo’s revenue stood at Rs 2,914 crore while its net profit for the year was Rs 200 crore.
Commenting on the results, Ramesh Kumar Dua, chairman managing director of Relaxo in a statement said, “We have achieved a moderate increase in revenue for FY24, with a notable improvement in profitability. This performance was largely driven by a significant uptick in open-footwear volumes, a testament to the efficacy of our strategic initiatives to regain market share.”
“This year, we have taken major sales transformation initiatives to enhance our connect with distributors, retailers, and consumers. We are also expanding our ecommerce operations by directly selling to consumers using ‘Brand as a Seller’ model on all major e-commerce platforms. These initiatives will help the company to improve our market connect and have a positive impact on growth,” he added.
Relaxo is one of the leading footwear makers in India and sells under brands Sparx, Flite, and Bahamas. It currently has over 405 exclusive-brand outlets across the country.
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