Relaxo gains as profit grow 34.4% sequentially in Q4

NEW DELHI: Shares of Relaxo Footwear ended higher by 0.60 per cent in trade on Tuesday after the company said its standalone net profit for the quarter ending March 31 surged 34.4 per cent sequentially to Rs 32.82 crore.

A 25.5 per cent jump in revenue for the quarter under review aided the company’s bottom line. It reported net revenue of Rs 485.50 crore.

Reacting to the earnings, the scrip gained 5.81 per cent to hit a high of Rs 505.80 on the BSE. The stock has slipped 1.1 per cent in the year so far.

For the year ended March 31, 2016, the company reported standalone net profit of Rs. 120.28 crore, climbing 16.72 per cent (YoY).

Its revenue for the period stood at Rs. 1,713.02 crore, registering growth of 15.68 per cent for FY16.

The company has offered a final dividend of 60 paise on every stock with a face value of Rs 1.