Indian footwear brand Khadim India Ltd announced a positive quarterly performance for June. The data suggests that the CompanyCompany has started the new fiscal with strong business performance, providing an optimistic outlook for the entire year.

Total revenue stood at Rs 166 crore, recording Year-o-Year growth of 88.23%. Reported retail sales growth remained 190%. While gross margin in Q1FY23 stood at 41.28 %, it was 35.33% in Q1FY22. EBIDTA (Earnings before interest, taxes, depreciation, and amortisation) stood at Rs 17 crore, representing a 10.3% margin. PBT (Profit Before Tax) stood at Rs 4.54 crore. The Profit After Tax (PAT) remained at Rs 3.34 crore for Q1FY23, compared to Rs 10.8 crore in the corresponding quarter of last year.

The company’s CEO Namrata A Chotrani said that the first quarter of this fiscal year presented a strong and consistent recovery compared to the same quarter last year. The company’s consistent focus on areas including strengthening the distribution network, expanding the brand’s retail footprint through new stores, premiumisation of the product range, increasing the brand’s presence through Omni- channels and driving data-driven consumer engagement have led to growth in revenue and gross margin.

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Headquartered in Kolkata, Khadim India Ltd. is involved in the retail and distribution of footwear and accessories. Over the years, the company has established an identity as an ‘affordable fashion brand and has become the second largest footwear retailer in India in exclusive stores operating under the brand name Khadim through the retail vertical.