One of the leading knitwear brands in India, Rupa & Company Limited, posted a net loss of Rs. 4 crore (US $ 5,29,706) for the fourth quarter ended March 2020, as compared to a net profit of Rs. 27 crore it had reported in the last fiscal.
The revenue of the company witnessed a decline of 55 per cent to Rs. 182 crore for the quarter, whereas it was Rs. 403 crore in the corresponding quarter of the last year.
So far as the brand’s revenue for the financial year 2019-20 is concerned, it fell 15 per cent to Rs. 982 crore, as against Rs. 1,151 crore it had reported in the previous fiscal.
The net profit for Rupa & Company for the year declined by 17 per cent to Rs. 62 crore, as compared to Rs. 74 crore in the last financial year.
Commenting on the business loss, the company shared in a statement, “The COVID-19 pandemic has severely disrupted regular business operations due to lockdowns and other emergency measures. As a result, the volumes for the month of March 2020 have been impacted.”
A leading knitwear brand in the country, Rupa & Company Limited produces innerwear, casualwear, thermalwear and sleepwear for men, women, and kids.
