Relaxo Footwears Q1 net profit up 27.8% to Rs 30.96 cr

PTIUpdated: Monday, August 02, 2021, 08:59 PM IST
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Relaxo Footwears’ total expenses were at Rs 462.15 crore, up 36.67 per cent compared to April-June 2020/ Representative image | Photo from Pexels

Relaxo Footwears Ltd on Saturday reported a 27.83 per cent increase in net profit to Rs 30.96 crore in the quarter ended in June 2021.

It had posted a net profit of Rs 24.22 crore in the April-June quarter of the last fiscal, according to a regulatory filing by Relaxo Footwears.

Revenue from operations rose by 36.73 per cent to Rs 497.13 crore during the period under review compared to Rs 363.58 crore in the corresponding period of the previous fiscal.

Relaxo Footwears’ total expenses were at Rs 462.15 crore, up 36.67 per cent compared to April-June 2020.

Commenting on the results, Relaxo Footwears Managing Director Ramesh Kumar Dua said, "During the months of April and May there were severe disruptions due to localized lockdowns across geographies.

"In spite of all the challenges we managed to deliver yet another resilient quarter backed by our customer centric approach, market share and continuous focus on quality improvement, though, we remain cautious on the rising trend in raw material prices."

During the quarter, the company invested into brand building, product innovation and enhancing customer reach to provide best in class experience and is well placed to emerge stronger in the post COVID – 19 world, Dua said.

"The company enjoys comfortable liquidity position with strong balance sheet and cash flow position and is rightly positioned to tap the growth opportunities in the sector," he said.

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