16 February 2023, Mumbai
For the third quarter Liberty Shoes’ net profit fell by 63 per cent. Revenue for the quarter rose by five percent. Liberty’s total expenses during the quarter grew to Rs 156 crores as compared to Rs 146 crores in the year-ago period. The company has seen continued demand through online and offline stores for its products.
During the third quarter overall ebitda in terms of value decreased by Rs 3 crores as compared to the corresponding quarter of the previous fiscal mainly due to an increase in overhead cost and incurring of marketing expenses as planned to maximise customer attraction during the festive season, the results of which are yet to be seen.
The company feels its performance in the current financial year till now has shown improvement at all fronts including profit and the company is hopeful of continuing with this trend. Liberty Shoes currently has a total of over 400 flagship stores across India and is present in over 5,000 multi-brand outlets. It also retails from its e-commerce store.
Liberty has been one of the favourite footwear brands of India for many decades. Liberty is successfully capturing the markets of Tier II and Tier III cities of the North.