Liberty Shoes posts Q1FY23 results

11 August 2022, Mumbai:

Footwear retailer Liberty Shoes posted a net profit of Rs 5.47 crore in Q1 FY23 as against the loss of Rs 3.06 crore in the same period of the previous fiscal 2021-22.

The brand is celebrated for Liberty white school shoes and Liberty velcro shoes.

The company’s revenues from operations grew by 65 percent Y-o-Y to Rs 161.22 crore as compared to Rs 97.64 crore in the same quarter last year with a year-on-year growth of 65 percent.

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Liberty shoes brands total expenses surged to Rs 153.65 crore in the Apr-Jun quarter as against Rs 100.77 crore in the corresponding quarter of the previous year.

Anupam Bansal, Director, Liberty Shoes brands says, the government’s focus on the manufacturing sector presents a bright outlook for the footwear industry, particularly for established and organized brands.

Rising disposable incomes are allowing individuals to move up the value chain, demanding products for different use occasions, leading to the emergence of new product segments in footwear, he adds.

Liberty shoes has enabled an interface with the emergence of online marketplaces and support infrastructure for logistics and billing. It is also focusing on increasing its omnichannel presence.

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