Relaxo Footwears Q4 PAT declines 5% to 52 cr

Relaxo Footwears' net profit fell 4.8% to Rs 51.80 crore on 15% decline in net sales to Rs 540.58 crore in Q4 March 2020 over Q4 March 2019.

"Revenue of the company has grown at 12.89% till December 2019, however, due to nationwide lockdown in the month of March 2020, growth for the current quarter has been adversely effected", the company said.

Profit before tax stood at Rs 69.04 crore in Q4 FY20, down by 12.3% from Rs 78.70 crore reported in Q4 FY19. Current tax expense fell 27.4% to Rs 16.52 in Q4 FY20 from Rs 22.76 crore in Q4 FY19.

Total expenses shrunk 14.8% year-on-year (YoY) to Rs 475.53 in Q4 FY20, due to lower raw material costs (down 15.1% YoY) and lower other expenses (down 12.9% YoY).

Consolidated net profit rose 29% to Rs 226.25 crore on 5.2% increase in net sales to Rs 2,410.48 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT stood at Rs 291.71 crore in FY20, down by 8.9% from Rs 267.98 crore in FY19.

Relaxo Footwears is engaged in production of Hawaii slippers, light weight slippers, canvas shoes, PVC footwear etc.

Shares of Relaxo Footwears fell 2.62% to end at Rs 755.75 on the BSE on Friday. On a year-to-date (YTD) basis, the stock has risen 22.97%, outperforming its peers. In the same period, Liberty Shoes gained 0.22% while Bata India, Mirza International and Khadim India have lost 19.25%, 17.76% and 17.53%, respectively.

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