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(01/08/2020 17:50)

Relaxo Footwears Q1 net profit down 51.32% at Rs 24.22 cr

The company reported standalone net profit of Rs 24.22 crore for the quarter ended June 30, 2020 as compared to Rs 49.75 crore in the same period last year, registering a year-on-year decline of 51.32 per cent.

Net revenue of the company declined substantially by 43.92 per cent at Rs 363.58 crore in April-June quarter of this fiscal as against Rs 648.30 crore in the corresponding period last year.

During April-June quarter, operating expenses dropped by 43.43 per cent to Rs 306.56 crore from Rs 541.88 crore in year ago period.

Other Income grew by 454.84 per cent at Rs 6.88 crore versus (Jun'19 Rs 1.24 crore).

Operating Profit slipped by 46.42 per cent to Rs 57.02 crore as against Rs 106.42 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 4.51 per cent in June quarter.

Interest declined by 12.45 per cent y-o-y to Rs 4.08 crore, while Taxation decreased by 69.66 per cent at Rs 8.10 crore (Jun'19 Rs 26.70 crore).