Relaxo Footwears’ Q3 net profit up 52 percent

Indian footwear major Relaxo Footwears clocked in a 52 percent increase in its net profit to Rs 54 crore ($7.6 million) for the period ended December 31, 2019, as against Rs 36 crore it had posted in the same period a year-ago. The company’s revenue for the October-December quarter rose 9 percent to Rs 602 crore as compared to Rs 554 crore it had reported in the corresponding quarter of the previous fiscal year.

Relaxo a leading footwear maker and sells under brands Sparx, Flite, and Bahamas. It has over 300 exclusive brand outlets across the country. The company has seen a slowdown this quarter in Northern markets due to extended winter. However, despite economic challenges it continues to drive business growth through strong execution and relentless focus on our consumer. This has helped it to achieve a healthy 13 percent top-line growth in overall challenging market conditions.