Rupa & Company Ltd reported a 67 percent decline in net profit to Rs 4 crore ($4,82,139), as against Rs 12 crore in the year-ago period.
The company’s revenue for the quarter was down by 7 percent to Rs 192 crore, as against Rs 206 crore in the corresponding quarter of the previous fiscal year.
“We have invested Rs 23 crore amounting to 12% of our revenues in marketing and advertising strategies this quarter. Our sales volume grew, and the gross margins improved this quarter. Exports stood at Rs 6 crore and contributed 3% in total revenues. Modern trade contributed 5% to our overall revenue and stood at Rs 11 crore,” the company said in a statement.
“In this challenging environment, our efforts were focused on efficient working capital management and reducing debt. We are determined on improving our product mix and our strategy is centred around optimizing operational processes, managing costs diligently, and seizing growth opportunities to enhance shareholder value,” it added.
During the quarter, the company took its exclusive brand outlet count to 29 stores and plans to expand its retail presence to reach a broader customer base.
Copyright © 2023 FashionNetwork.com All rights reserved.
