earnings | IST

Relaxo Q4FY21 results: Demand was suppressed in May, likely to improve in June, says management

Relaxo Footwear on Wednesday reported a whopping 97.2 percent jump in its profit. From Rs 51.80 crore in Jan-March quarter of the last financial year, Relaxo reported Rs 102.17 crore in the quarter ended March 31, 2021. Ramesh Kumar Dua, MD of the company said while the scene has been chaotic and uncertain, we hope the market will open in June.

Relaxo Footwear on Wednesday reported a whopping 97.2 percent jump in its profit. From Rs 51.80 crore in Jan-March quarter of the last financial year, Relaxo reported Rs 102.17 crore in the quarter ended March 31, 2021.
Ramesh Kumar Dua, MD of the company said while the scene has been chaotic and uncertain, we hope the market will open in June.
“Because of coronavirus pandemic things have been chaotic and uncertain. So demand has been low but May has been knocked out. Most of the markets have been brought under lockdown. I hope things will improve in June, market will start opening and then things will start looking up,” he said.
Adding that the contribution of e-commerce to the revenue is somewhere between 8-10 percent, he said shoe consumption has been low since schools and offices are shut.
“Consumption of footwear is there, it will be there even if people are at home. Once the things start opening up, demand will come back,” he added.
“I hope things will be much better in Q2FY22, Q3FY22 and Q4FY22,” he shared.
For the full interview, watch the video