Khadim India records 76% decline in net profit during Q4, FY24
Khadim India’s Q4, FY24 net profit declined by 76 per cent to Rs 1 crore from Rs 4 crore in the corresponding quarter in the previous year.
The company’s revenues also declined by10 per cent during the quarter to Rs 144 crore from Rs 159 crore in the previous quarter ending March 2023.
For the full financial year 2024, Khadim India registered a 64 per cent Y-o-Y decline in net profit to Rs 6 crore, with annual revenues of the comapny amounting to Rs 615 crore.
The company’s earnings report attributes the decline in net profit primarily to a one-time profit earned from the disposal of immovable properties in the previous year.
However, despite this decline, Khadim India continued to boost its retail network with 94 new stores in FY24, bringing the company’s total store count to 868. The company also strengthened its distribution network by adding 81 new distributors, increasing the total to 753.
One of India’s largest footwear retailers in terms of exclusive stores, Kolkata-based Khadim India currently operates 846 retail stores, supported by a robust network of 700 distributors.
