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Q1 revenues & profits slip at Kewal Kiran
24
Jul '12
Kewal Kiran Clothing which has multiple garment brands in its fold like Killer, Lawman and Integriti and Easies witnessed a slide in both, sales and net profits in the quarter ending June 30, 2012.

Net profits fell by a tumultuous 42 percent from Rs 126.2 million in the corresponding quarter of previous fiscal to just Rs 72.2 million in quarter ending June 30, 2012.

Likewise revenues too dipped from Rs 693.3 million to Rs 568.6 million down 17.99 percent, year on year. Garment volumes too fell 16.88 percent in the period.

Kewal Kiran attributed the performance to an overall dismal economic scenario. It also said bleak consumer sentiments resulted in less footfalls and decline in sales volume.

During the quarter it opened 15 new stores and closed down 9 stores, the company said. With these new additions, Kewal Kiran has expanded its presence to around 140 cities across 21 states in India.

However apparel sales realization per unit increased by 2.25 percent to Rs 774 at Kewal Kiran in the quarter.

The other redeeming feature was exports posting a fantabulous growth of 46 percent in surging from Rs 22.7 million in the corresponding quarter to Rs 33.1 million.

Killer was the top selling brand with sales of Rs 272.1 million down 14 percent, followed by Lawman with revenues of Rs 109.9 million, falling by 19 percent.

Sales of Easies plunged 46 percent in the reporting period to Rs 8.9 million. Integriti also witnessed sales slipping by 12 percent to Rs 139.9 million.

Among various apparel categories, jeans contributed 65 percent to the first quarter revenues, followed by shirts with 15 percent, trousers 10 percent, t-shirts 3 percent and others 7 percent.

Region-wise, Eastern India takes the cake with 32 percent of overall sales, Western India 24 percent, Southern India 21 percent and last Northern India with just 17 percent.

Fibre2fashion News Desk - India

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