New Delhi: Global lifestyle brand Swiss Military on Wednesday has reported 42.7 per cent increase in the consolidated net profit to Rs 2.37 crore in the fourth quarter ended March 2024 as against the net profit of Rs 1.66 crore in the same period of the previous fiscal, it said in a regulatory filing.
Its year-on-year consolidated net profit grew to Rs 8.34 crore in 2023-24 as compared to the net profit of Rs 6.17 crore in 2022-23.
The company’s revenue from operations stood at Rs 54.08 crore in Q4 FY24 as against the revenue of Rs 39.26 crore in Q4 FY23. Its revenue from operations for the year 2023-24 rose 44.5 per cent at Rs 187.91 crore as compared to Rs 129.99 crore in the previous year.
Its total expenses also grew Rs 51.28 crore in Q4 FY24 as compared to Rs 37.55 crore in Q4 FY23, as per the BSE filing.
On its financial performance, Anuj Sawhney, managing director of Swiss Military Consumer Goods said, “We have achieved another strong financial quarter, thanks to robust turnover growth and significant brand development initiatives. Swiss Military is debt-free and asset-light with a very strong research-based approach to solving customer problems.”
In Q4 FY24, Swiss Military CGL has achieved significant milestones in product presence and scalability. It has secured an exclusive tie-up with a super stockist in the South India market has notably expanded the brand’s retail presence on-ground, the company said.
Additionally, the company has recently purchased a property to establish their inaugural fully-owned manufacturing unit in India aiming to enhance production capacity and contribute to the ‘Make in India‘ initiative. This, combined with the development and introduction of innovative and customer-centric products aligns with Swiss Military CGL’s future vision of delivering aggressive growth for all stakeholders.
