Khadim India Ltd registered a standalone net profit of around ₹3 crore for the quarter ended June 30, 2022, as against a net loss of ₹11 crore in the same period last year.
Following a consistent recovery in the last couple of quarters, the company’s standalone revenue from operations grew by nearly 88 per cent at ₹166 crore during the quarter under review as against ₹88 crore in the same period last year on the back of retail sales growth of 190 per cent, the company said in a press statement.
The EBIDTA in Q1FY23 stood at ₹17 crore and the EBIDTA margin stood at 10.29 per cent.
Areas of focus
The company’s constant focus on key thrust areas that includes premiumisation of the product range, expanding the brand’s retail footprint through new stores, strengthening the distribution network, increasing the brand’s presence through omni-channel and driving data-driven consumer engagement has led to growth in revenue and gross margin.
“Our Q1 performance for the new fiscal demonstrates the strength and sustenance of our business approach as we continue to serve the demand from our consumers. We have focussed on creating fashionable yet affordable products which appeal to the entire family,” said Namrata A Chotrani, CEO, Khadim India in a statement.
Chotrani added, “We have continued our strategic expansion of retail stores through franchise networks which allow us to get incremental reach for our consumers while enabling us to magnify our operating margin and profitability.”
The homegrown company continues its asset-light model expansion to optimise its retail presence to mark its dominance in the affordable fashion segment of footwear and accessories. The company continued its expansion in the tier-II and tier-III locations taking the store tally to 796 by the end of the first quarter.