The company witnessed a 56 per cent rise in net profit to Rs 34 crore for the quarter ended 30 June, compared to the Rs 22 crore that was posted a year ago.
The company’s revenue for the quarter grew by 15 per cent to Rs 178 crore, against the Rs 154 crore that was reported in the corresponding period of the previous fiscal year.
Commenting on the results, Kewalchand P Jain, Chairman & Managing Director of Kewal Kiran in a statement said: “I am happy to inform you that Q1 FY 24, has reflected upon the positive trends of our ongoing growth initiatives. The company emerged stronger in a challenging environment exhibiting robust resilience as we saw strong performance with volume and sales growth with consistent margins.”
“We are confident that we are on the right path to execute the growth strategy. Our robust distribution model is well supported by the drive for expansion of product categories backed by in-house manufacturing capabilities which has assisted us emerge stronger and be more committed to pursuing sustainable and profitable growth while catering to the rising demand,” he added.
During the April-June period, the company opened 27 exclusive brand outlets to take its count to 454 as of 30 June 2023. It plans to open 50 more outlets in the coming months.
