02 June 2023, Mumbai
Dollar Industries Ltd, a prominent player in the innerwear and athleisure segment, experienced a significant setback in net profit for the fourth quarter that ended March 2023.
Amidst Volatile Raw Material Prices
With a staggering 90 percent decline to Rs 4 crore compared to Rs 37 crore in the same quarter last year, the company faced challenges due to volatile raw material prices and a cyclical slowdown, resulting in reduced margins.
Outlook bullish
Despite the setback, Dollar Industries remains optimistic about the future, highlighting the potential for increased demand and controlled raw material prices in the upcoming fiscal year, which is expected to support margin maintenance. The company's strategic focus on expanding its distribution network, strengthening its product portfolio, and maintaining a robust supply chain will contribute to its recovery.
In the last fiscal year, Dollar Industries successfully opened 14 exclusive brand outlets across the country, catering to consumer demand and driving sales.
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