Liberty Shoes’ Q4 FY21 net profit surges to Rs 7 crore Vs 2 crore corresponding period

The fourth quarter net profit of footwear major Liberty Shoes surged to Rs 7 crore ($1 million) as against a net profit of Rs 2 crore it reported in the year-ago period. The company’s revenue for the quarter declined by 19 percent to Rs 163 crore, as against a net profit of Rs 200 crore it reported in the corresponding period of the previous fiscal year.

For the financial year 2020-21, the company reported a revenue of Rs 458 crore down 30 percent as compared to the previous fiscal’s Rs 652 crore, while its net profit dropped by 98 percent to Rs 0.23 crore as against a net profit of Rs 11 crore it reported last year. Liberty Shoes currently has a total of over 400 flagship stores across India and is present in over 5,000 multi-brand outlets. It also retails from its e-commerce store.