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V2 Retail closes non-performing store in Karnataka


Sportking India’s March quarter profit jumped by 3,475 per cent to Rs 44.33 crore from Rs 1.24 crore posted for the year-ago period. Sales grew 27.51 per cent to Rs 413.37 crore from Rs 324.19 crore during the year-ago quarter.

For the financial year 2020-21, net profit surged 583.9 per cent to Rs 84.53 crore from Rs 12.36 crore in the previous financial year. Sales declined 3.60 per cent to Rs 1306.24 crore from Rs 1,355.05 crore in the financial year ended on March 31, 2020.

Established in 1977, Sportking India manufactures and retails textile products such as knitted fabrics and garments including T-shirts, shirts, sweaters, jackets, jeans, leggings, shorts and nightwear besides yarns.

According to the company website, Sportking India is associated with renowned brands such as S. Oliver, Sailor, Jockey, Interloop, IKEA, H&M, Marks & Spencer and Zara; owns manufacturing facilities in Punjab and Himachal Pradesh and has over 100 retail garment stores across states.

While the company mainly serves Indian customers, it also exports products to over 30 countries including Morocco, Egypt, Kenya, Brazil, Portugal, USA, Czech Republic, Cana, Spain, Poland, South Africa, Vietnam, Singapore, Japan and Dubai.