Relaxo Footwears Q2 profit up 6.5% at Rs 75.10 crore

It had posted a net profit of Rs 70.54 crore in the July-September quarter last fiscal, Relaxo Footwears said in a regulatory filing. Its revenue from operations was down 7.38 per cent to Rs 575.87 crore during the period under review as against Rs 621.77 crore in the corresponding three months of the previous fiscal.

Relaxo Footwears Ltd on Saturday reported an increase of 6.46 per cent in its net profit at Rs 75.10 crore in the second quarter ended September 2020. It had posted a net profit of Rs 70.54 crore in the July-September quarter last fiscal, Relaxo Footwears said in a regulatory filing.

Its revenue from operations was down 7.38 per cent to Rs 575.87 crore during the period under review as against Rs 621.77 crore in the corresponding three months of the previous fiscal. Relaxo Footwears' total expenses were at Rs 480.56 crore, down 12.48 per cent, as against Rs 549.12 crore in Q2 FY2019-20.

The company's operations are almost at pre-COVID levels and the liquidity position also is quite good, said Relaxo Footwears. "With the easing out of COVID-19 related restrictions, the demand of our products is on an upward trend, therefore the company is able to achieve 93 per cent sales, as compared to the corresponding quarter of the previous year," it said.

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