Khadim India, a retail footwear brand, recorded a fall in consolidated net profit to Rs 4.82 crore in the third quarter ended December 31 this fiscal, compared to a profit of Rs 8.20 crore in the same period previous fiscal, according to a BSE filing.
As per the regulatory filing, the company’s income from operations fell 19% year on year (YoY) to Rs 148.95 crore in Q3 FY23, compared to Rs 185.04 crore in the previous fiscal’s equivalent quarter.
Good demand was registered with the introduction of fashionable and premium product lines, which improved sales momentum over the holiday season, the firm said.
The company’s ambitions to expand its retail and distribution footprint have contributed to the anticipated results.
Indrajit Chaudhuri, the company’s CFO, commented on the findings, saying, “The company has achieved sustained growth across both its divisions – retail and distribution throughout the current fiscal term.”
In addition, the firm continues to extend its retail base by building 15 locations during the quarter, bringing the total number of outlets in India to 838.
The indigenous company’s asset light model expansion approach continues to increase its retail footprint in target areas and tier II & III locations.