27 May 2022, Mumbai:
Khadim India’s revenue declined 41 percent to Rs 159 during the fourth quarter ended March 2022 as against Rs 273 crore revenues it posted in the corresponding quarter of the previous fiscal year.
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*As per a Fashion Network report, the net profit of the company declined to Rs 3 crore during the quarter as against a net profit of Rs 11 crore it reported in the year-ago period.
For the financial year 2021-22, the company reported a net profit of Rs 6 crore while its revenue for the year stood at Rs 607 crore.
In its earnings report, the company attributed the drop in revenue and profit to COVID-19 disruptions caused during the first half of the year.
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However, Khadim’s sales rebounded during the last two quarters, and it expects growth momentum to continue going forward on the back of its retail expansion.
Khadim expanded its retail presence during the year by increasing its store count to over 780.
It plans to strengthen its retail presence further during the current financial year.
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CREDITS: *A Fashion Network report.
