Rupa and Company Ltd reported a 276 percent jump in net profit to Rs 21 crore ($2.6 million) for the third quarter ended December 2023, as against Rs 6 crore in the year-ago period.
The company’s revenue for the quarter rose by 35 percent to Rs 318 crore, as against Rs 236 crore posted in the corresponding period of the previous fiscal year.
Commenting on the results, Rupa and Co in a statement said, “We have adeptly steered through a dynamic operating landscape, achieving growth across key metrics. Revenues surged by 35% this quarter backed by strong sales in our core product line. Volume growth continues to show double-digit growth in the second consecutive quarter witnessing an overall growth of 45% in Q3, backed by robust sales in inner wear and athleisure segment.”
“Despite price headwinds, we expect to see sustained customer demand, which provides a silver lining for growth in coming quarter. Looking ahead, we remain committed to innovation, sustainability, and customer satisfaction, positioning ourselves for continued success in coming quarters,” it added.
During the quarter, the company took its exclusive brand outlet count to 29 stores and plans to expand its retail presence to reach a broader customer base by opening 150 stores over the next three years.
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