Relaxo Footwear today posted 52.38% decline in net profit to Rs 4.30 crore in the quarter ended September 30, 2011, on account of increase in raw material and employee cost.
In the corresponding quarter, the company had a net profit of Rs 9.03 crore, Relaxo Footwear said in a filing to the BSE.
During the quarter under review, the firm had a net sales of Rs 199.26 crore, an increase of 10.26% from Rs 180.71 crore in the year-ago period.
The firm's expenditure on consumption of raw material during the period increased to Rs 103.89 crore from Rs 84.20 spent in the corresponding quarter last fiscal.
Besides, the footwear firm's employee cost also increased to Rs 25.66 crore from Rs 18.62 crore in the year-ago period.