Relaxo Footwear announced decent set of Q3 numbers after market hours on Saturday, 1 February 2020.
On a standalone basis, Relaxo's net profit jumped 52% to Rs 54.16 crore in Q3 December 2019 as against Rs 35.62 crore reported in Q3 December 2018. Net sales for the quarter ending December 2019 stood at Rs 599.83 crore, rising 8.8% on YoY basis.The company said that the growth has been moderate due to extended winter in Northern India.
It saw growths across its portfolio of brands.
The company said margins improved due to focus on the better cost efficiencies and raw material economics.
Shares of Relaxo Footwear were trading 2.46% lower at Rs 714.95 on BSE. The stock hit a 52-week high of Rs 754 on 01 Feb 2020 and hit a 52-week low of Rs 343.5 on 21 Feb 2019.
Relaxo Footwears is engaged in production of Hawaii slippers, light weight slippers, canvas shoes, PVC footwear etc.
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