16 February 2023, Mumbai
For the third quarter Khadim’s revenue from operations fell by 19 per cent year on year.
Consolidated net profit declined to Rs 4.82 crores as against a profit of Rs 8.20 crores in the same period last fiscal. The footwear brand recorded good demand with the introduction of trendy and premium product lines that boosted the momentum of sales during the festive season. The company’s plans of scaling up of its retail and distribution presence have contributed toward delivering the desired results. The company achieved steady growth across both its businesses -- retail and distribution-- during the nine month period of the current fiscal. Alongside, to penetrate more into target markets, the company continued to expand its retail footprint by opening 15 stores during the quarter that scaled up the total stores to 838 across India. The asset light model expansion strategy of the home grown company continues to strengthen its retail presence in the target markets and Tier II and III locations. Founded in the 1960s, Kolkata-based Khadim is present in 23 states and one union territory. The footwear retailer saw an increased demand for its products riding on the festive season resulting in the brand continuing its healthy business performance during the quarter.
