Rupa & Co registers 10% decline in net profit to Rs 18 crore in Q2, FY25
11 November 2024, Mumbai
The Q2, FY25 net profit for Rupa & Company declined by 10 per cent to Rs 18 crore ($2.2 million) as against Rs 21 crore in the corresponding quarter last year. The company’s revenue for the quarter declined to Rs 297 crore from Rs 302 crore in the corresponding quarter of the previous fiscal.
In H1, FY25, Rupa & Co’s net profit declined to Rs 29 crore while revenue contracted to Rs 507 crore. According to Vikash Agarwal, Director, this profit decline was a result of competitive pricing pressures in the industry and resistance to price increases following the stabilisation of yarn costs. Some of the demand typically seen during the festive season had shifted to Q3 this year, he noted but expressed optimism about the quarters ahead, citing expected growth in thermal wear, athleisure, and modern trade,
Highlighting the company’s ongoing retail expansion, Agarwal reveals, the company plans to open 31 EBOs in H1, FY25 to reach a wider customer base. The brand also aims to achieve new business milestone during the period and introduce innovative products to our diverse customer segments, he adds.
One of India’s largest knitwear brands, Rupa & Company offers a wide range of products including innerwear, casual wear, thermal wear, and sleepwear for men, women, and children.
