Koutons Retail net profit up

Koutons the fashion wear brand is targeting Tier II and III cities for expansion and focusing on family stores for consolidation of existing stores. Koutons currently has 1,360 stores in 500 cities across India, covering a total retail space of 1,323,020 sq. ft. The brand has posted a net profit of Rs 314.37 million for the quarter ended March 31, 2010, as compared to Rs 358.26 million for the corresponding quarter a year ago. The total income for the quarter has increased to Rs 3,862.33 million from Rs 3,789.26 million for the corresponding quarter in the previous year. For fiscal 2009-10, the company had posted a net profit of Rs 823.23 million as compared to Rs 795.57 million in the previous fiscal. Total income for the fiscal has also increased to Rs 12,058.18 million from Rs 10,631.34 million last fiscal.

However, Koutons’ stock underperformed in the market over the past one month, falling 4.78 per cent compared with the Sensex’s 3.12 per cent fall. It also underperformed in the market in the past one quarter, declining 12.45 per cent as against a 6.89 per cent rise in the Sensex. The mid-cap apparel retailer has an equity capital of Rs 30.55 crores. Face value per share is Rs 10.