Mirza International surged 13.73% to Rs 257.15 after the company's consolidated net profit rose 31.1% to Rs 57.58 crore on 0.9% increase in revenue from operations to Rs 594.88 crore in Q3 December 2022 over Q3 December 2021.
On a consolidated basis, profit before tax (PBT) surged 25.8% YoY to Rs 77.35 crore in Q3 FY23.Total expenditure fell 2.8% YoY to Rs 495.33 crore in Q3 FY23. Cost of raw material consumed rose 25% to Rs 80.98 crore while employee expenses jumped 27.67% to Rs 31.52 crore.
Mirza International is a leading leather footwear manufacturer, marketer and exporter. Its portfolio of brands include, REDTAPE, REDTAPE Athleisure, Mode, Bond Street and OakTrak. It is also the preferred supplier of leather footwear to leading international brands and one of the largest Indian suppliers of finished leather to overseas markets.
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