India’s largest omnichannel sports and athleisure footwear brand Campus Activewear Limited announced a weak set of Q1FY25 earnings. The company reported a revenue of INR 339.2 Crore, marking a 4.1% decline from the previous year, primarily due to muted demand influenced by the general elections.
The earnings before interest, tax, depreciation, and amortization (EBITDA) also saw a decrease to INR 54.0 Crore, down 18.7% year-over-year, resulting in an EBITDA margin of 15.8%, compared to 18.8% in Q1 FY24. Profit after tax (PAT) fell by 19.5% to INR 25.4 Crore, with the PAT margin narrowing from 8.9% to 7.4%.
In terms of sales, the company sold 5.8 million pairs of shoes, with the average selling price dropping to INR 585 per pair in Q1 FY25 from INR 629 in Q1 FY24. The decline in average selling price reflects a shift towards more open footwear options, which typically command lower prices.
CEO, Nikhil Agarwal, said, “Despite a decline in overall sales, we have made significant strides in expanding our geographic footprint by adding 13 new stores during the quarter,” said Agarwal. He highlighted that the company continues to focus on scaling operations and improving customer experience across its retail and online platforms.”
