The net profit of knitwear manufacturer Rupa & Co declined 25.2 percent at Rs 49.3 crore in the last quarter of 2021-22 as compared to Rs 65.9 crore in the previous similar period, a company statement said.
Revenues of the company during the fourth quarter of last fiscal increased marginally to Rs 455.5 crore as against Rs 454 crore in the similar previous corresponding period.
Earnings before interest, taxes, and amortization (EBITA) margins during the last quarter of FY22 also declined to 16.3 percent as compared to 20 percent in the previous similar period.
Dinesh Lodha, CEO of the company, was quoted as saying that the fourth quarter of last fiscal was challenging as the industry faced headwinds due to the pandemic coupled with rise in raw material prices. These factors led to pressure on the margins and steps are being taken to calibrate pricing of products.
