Praxis Home Retail Achieves Record Profit and Becomes Debt-Free

Praxis Home Retail reports a net profit of Rs 81 crore for Q2, marking a significant turnaround from losses in previous quarters. Strategic restructuring and operational efficiency contributed to the success. The company is now debt-free, with new management in place, focusing on transparency and sustainable growth.

Praxis Home Retail has reported a remarkable net profit of Rs 81 crore for the September quarter, a stark contrast to its Rs 3 crore loss in the same period last year and Rs 16 crore loss in the previous quarter, according to a company statement on Monday.

This financial turnaround is largely attributed to strategic restructuring and enhanced operational efficiency. A key milestone for Praxis this year is achieving a completely debt-free status, thanks to a full waiver of outstanding dues as the company strengthened its balance sheet.

Under new management and ownership, Praxis is committed to transparency and long-term growth. CEO Ashish Bhutda emphasized that the record profit and debt-free status highlight the effectiveness of strategic changes, setting the stage for unlocking further potential and delivering sustainable value.

(With inputs from agencies.)