Campus Activewear gains 2% on tepid net profit numbers

Revenue was up 4.8 percent YoY at Rs 353.8 crore in Q1FY24 while EBITDA grew 6.7 percent to Rs 66.4 crore.

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Campus activewear shares were up 2.4 percent at Rs 294.45 at 10.47 am at after the company reported a 0.5-percent increase in net profit Year-on-Year (YoY) at Rs 31.5 crore in the April-to-June quarter.

Revenue was up 4.8 percent YoY at Rs 353.8 crore in Q1FY24. Earnings Before Interest Tax Depreciation and Amortisation grew 6.7 percent at Rs 66.4 crore.

“Campus Activewear registered 4.8% revenue growth despite subdued demand, witnessed across the rural and semi urban areas,” said Nikhil Agarwal, chief executive officer at Campus Activewear. He further said that the company continued its premiumisation journey through new product offerings and enhancing its retail footprint in new geographies.

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During the quarter the company added 24 new stores.

Campus Activewear is India’s largest sports and athleisure footwear brand in terms of value and volume. The company has around 17 percent market share in the Indian branded sports and athleisure footwear industry. It owns and operates 5 manufacturing facilities across India with an installed annual capacity for assembly of 34.8 million pairs as on June 30, 2023.

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