Khadim India Ltd registered nearly 33 per cent rise in standalone net profit at ₹4 crore for the quarter ended March 31, 2023, as against ₹3 crore in the same period last year.

Revenue from operations on standalone basis increased by two per cent to ₹159 crore (₹156 crore).

For the year ended March 31, 2023, the company registered nearly 200 per cent rise in net profit at around ₹18 crore against ₹6 crore in FY22.

The company’s continuous focus on creating affordable premium product portfolio to meet the consumer demand has boosted the growth momentum during the period across its business units, Khadim said in a press statement.

Expanding reach

It has also scaled up its retail foot prints and strengthened the distribution network to expand its reach. The company continues with its strategy of asset light model to strengthen its retail presence in the target markets and Tier-II and Tier-III locations.

“The company has focused on expanding the reach, digital penetration, portfolio augmentation and customer focused integrated communication approach. The cumulative approach has resulted in significant increase of sales across retail with contribution from e-commerce vertical. With the focus on product improvisation, expansion through all channels and enhancement of customer service through omni-channel approach, Khadim is well poised for the years to come,” Indrajit Chaudhuri, CFO, Khadim India, said in the statement.

The company’s scrip closed at ₹229.95, up 3.05 per cent on the BSE on Tuesday.