31th August 2021, Mumbai:
Footwear major Khadim India’s net revenues during the first quarter ended June 2021 rose by 46 per cent to 88 per cent as against Rs 60 crore it reported during the corresponding period of the previous fiscal year. The company’s net loss during the quarter narrowed to Rs 11 crore as against a net loss of Rs 28 crore in the year-ago period. It witnessed store closures across many states due to lockdown and gradual reopening started from June 2021. However, the revenue decline narrowed during the quarter while gross margins improved substantially year-on-year in both retail and distribution verticals.
Khadim manufactures and retails footwear under its flagship brand, Khadim’s. The brand now has over 800 retail outlets across India and sells its products through its e-commerce site and other online platforms.
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