09 August 2022, Mumbai:
Retail footwear brand Khadim India reported robust business performance in the first quarter of this fiscal year.
The company posted a Profit Before Tax (PBT) of 45.42 million for Q1FY23, as compared to Rs 111.33 million in the corresponding quarter of last year.
The Khadims Profit After Tax (PAT) stood at Rs 33.49 million for Q1FY23, as compared to Rs 108.90 million in the corresponding quarter of last year.
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The company’s operational revenues grew by 88.23 percent to Rs 1,660.73 million in Q1FY23 as against Rs 882.30 million in Q1FY22. The brand’s EBIDTA in Q1FY23 stood at Rs 170.85 million compared to Rs (3.62) million in the same quarter of last year. The EBIDTA margin stood at 10.29 percent in Q1 FY 23.
Khadim India’s constant focus on crucial thrust areas that includes premiumization of the product range, expanding the brand’s retail footprint through new stores, strengthening the distribution network, increasing the brand’s presence through omnichannel, and driving data-driven consumer engagement has led to growth in revenue and gross margin.
The homegrown company continues its asset-light model expansion to optimize its retail presence to mark its dominance in the affordable fashion segment of footwear and accessories.
Khadim continued its expansion in Tier II and III locations taking the store tally to 796 by the end of the first quarter.
(Indian Retailer report)
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