Rupa Q4 results: Co reports net profit of Rs 66 crore

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MUMBAI: & Company Limited, a knitwear agency posted a net profit of Rs 66 crore in the course of the quarter ended March in contrast with a loss of Rs 4.3 crore within the corresponding quarter of the earlier yr, helped by increased gross sales that greater than doubled from a yr in the past. The innerwear firm noticed gross sales improve 153 per cent to Rs 454 crore within the fourth quarter.

The firm mentioned regardless of the challenges confronted because of the pandemic, it recorded its highest ever revenues and earnings in FY2021. “This was possible due to increased sales volumes, changes in product mix, improved operating efficiencies and cost reduction strategies,” mentioned Dinesh Kumar Lodha, chief govt officer at Rupa & Co.

During FY21, revenues elevated 35 per cent to Rs 1312 crore whereas net profit rose 183 per cent at Rs 175 crore.

The Kolkata primarily based agency mentioned it’s witnessing a second wave of Covid-19 infections, which has resulted in disruption to enterprise after restrictions. “We expect business to start gaining traction in June 2021 and expect higher than industry growth for the coming year,” added Lodha.

The innerwear class, estimated at Rs 30,000 crore, accounts for 10 per cent of the overall attire market and is predicted to develop at a compounded annual development charge of 10 per cent over the subsequent decade to Rs74,258 crore. Experts, nonetheless, really feel innerwear is evolving from being useful to a phase with a vogue quotient. While it has been shifting from a price-sensitive class to a brand-sensitive one, the pandemic yr has favoured mass priced merchandise.

“On a full year basis, sales of

have declined by 3.8 per cent and are behind smaller players such as Lux, Rupa and Dollar. These players have been beneficiaries of the consumer shift from unbranded to branded, while Page is likely to benefit from the next leg of premiumisation in this consumer cohort,” mentioned a current report by IIFL Securities.

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