Levi Strauss India’s FY24 net profit declines 13.4% to Rs 159.4 crore
16 December 2024, Mumbai
Levi Strauss (India)’s FY24 net profit declined by 13.4 per cent to Rs 159.4 crore as its sales rose 3.3 per cent to Rs 1,668.7 crore, as per an RoC filing by the company.
Helped by other income, the company’s revenues increased by 3.4 per cent to Rs 1,843.7 crore for the financial year ended on March 31, 2024, according to financial data accessed through business intelligence platform Tofler.
The company had reported a total standalone profit of Rs 184.1 crore in FY23 while its revenues totaled Rs 1,615.1 crore.
Its advertising promotional expenses rose by 15.62 per cent to Rs 118.4 crore in FY24 from Rs 102.4 crore a year ago in FY23.
Royalty fees paid by the company to its California, US-based parent company Levi Strauss & Co increased by 4.27 per cent to Rs 119.5 crore from Rs 114.6 crore in the previous year.
Total expenses of Levi Strauss (India) during the financial year totaled Rs 1,630.2 crore. With 99.95 per cent of its stake owned by Levi Strauss Mauritius, a unit of Levi Strauss & Co,
Levi Strauss (India) is strongly supported by its parent company, Levi Strauss & Co. The company has earned in the Indian retail market space and hence benefitted immensely from the group-level initiatives. It strives to consolidate its position through its strong portfolio of brands, innovative processes and a credible workforce.
