Relaxo Footwears Ltd witnessed a 97 percent rise in its net profit at Rs 102 crore ($14.1 million) in the fourth quarter ended March 31, as against a net profit of Rs 52 crore it had posted in the corresponding period last year.
The company’s revenue for the quarter rose by 38 percent at Rs 748 crore during the period under review as against Rs 541 crore in the same quarter of the previous financial year.
For the financial year 2020-21, the company’s net profit climbed 29 percent to Rs 292 crore with a revenue of Rs 2,359 crore.
Commenting on the results Ramesh Kumar Dua managing director at Relaxo Footwears in a statement said, “In a challenging market environment, we have delivered strong financial performance for the quarter on both the top-line and bottom-line and closed the year on a positive note. The company achieved 97 percent growth in profit during the quarter due to strong top-line growth helped by low base of last year along with continuous focus on cost optimization.”
“Despite challenging times, our business ecosystem has withstood the disruption and demonstrated agility and resilience across the value chain. Our focus on selling and administrative expenses have helped us to improve our profitability during the quarter and the year, however we are cautious about the recent rising
trend of raw material prices,” he added.
Relaxo is one of the leading footwear makers in India and sells under brands Sparx, Flite, and Bahamas. It currently has over 300 exclusive-brand outlets across the country.
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