Rupa & Co Ltd Reports for Q4FY23

Rupa & Co Ltd Reports for Q4FY23

 27 May 2023, Mumbai

Rupa & Co Ltd, a prominent knitwear brand in India, reported a significant decline in net profit for the fourth quarter, reaching Rs 18 crore ($2.2 million). This represents a 61% drop compared to the previous year's figure of Rs 49 crore.

The company's total income during the quarter also decreased by 10%, amounting to Rs 411 crore, in contrast to Rs 460 crore in the corresponding period of the previous fiscal year.

Challenging Market Conditions Impact Performance

Rupa & Co attributed the challenging year to volatile raw material prices, which initially surged and then sharply declined.

This market phenomenon resulted in destocking at the distributor level throughout the year. Despite these challenges, the company remains dedicated to enhancing operational efficiency, expanding its market reach, and seizing emerging opportunities for sustainable growth and long-term value creation.

Continued Focus on Market Leadership

Rupa & Company Limited specializes in producing innerwear, casual wear, thermal wear, and sleepwear for men, women, and children.

With a net profit of Rs 53 crore and a total income of Rs 1,159 crore for the full financial year, the company aims to maintain its market leadership position by prioritizing operational improvements and capitalizing on market prospects.

Latest Textile Events

Author’s Posts

  • Reliance Retail Expands Yousta Footprint with Two New Stores

    PM-Vishwakarma Yojna: Boosting the Apparel Industry and Empowering Artisans

    23 September 2023, Mumbai

    A Tailor-Made Initiative with...

    Sep 23, 2023

  • Levi's® Launches "For Now, For A Lifetime" Campaign Celebrating Moments of Instinct

    Arrow appoints Anand Aiyer as CEO

    23 September 2023, Mumbai

    In a recent press release, Ar...

    Sep 23, 2023

  • Fashion Retailers to Face Profit Margin Pressure in FY2024, Despite Revenue Growth: ICRA

    DFU
    Inside Fashion Vol. 23 No. 2
    Azad
    Virtual Fashion