Timex Group India Ltd reported a 68 percent drop in net profit to Rs 7 crore ($8,39,472) for the fourth quarter ended March 31, as against Rs 22 crore in the year ago quarter.
The company’s revenue for the quarter rose by 11 percent to Rs 92 crore, as against Rs 83 crore in the corresponding quarter of the previous financial year.
For the financial year 2024, the company reported a revenue of Rs 419 crore with a net profit of Rs 21 crore.
Commenting on the results, Deepak Chhabra, managing director of Timex India in a statement said, “I’m excited to announce another positive quarter with a double-digit growth for Timex India. This certainly paves the way for us to further invest in initiatives that have led to this number.”
“We are committed to building on this momentum and amplify brand presence across the length and breadth of the country and touchpoints right from e-commerce and retail outlets. We have a robust strategic roadmap for this year to ensure sustainable business growth with a strong bottom-line,” he added.
During the year, Timex launched a new brand Unltd through the e-commerce channel and expanded its Timex Smart collection with launch of smartwatches.
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