Relaxo Footwears hits all-time high on strong September quarter results

The company's revenue during the quarter grew by 14 per cent year-on-year (YoY) at Rs 622 crore as compared to Rs 543 crore in the corresponding period of the previous year.

Shares of Relaxo Footwears hit an all-time high of Rs 629, zooming 16 per cent on the National Stock Exchange (NSE) in the early morning deals on Monday after the company reported strong operating performance with a more than 300 basis points (bps) margin improvement in September quarter (Q2FY20). The stock surpassed its previous high of Rs 561 recorded on September 25 in the intra-day trade.

In Q2, EBITDA (earnings before interest, tax, depreciation and amortisation) margin improved 330 bps at 16.8 per cent from 13.5 per cent in the year-ago quarter. Premiumization and favorable raw material prices improved