However, revenue from operations grew by 15.23% year on year (YoY) to Rs 421.06 crore in the quarter ended 31 March 2024.
Profit before tax (PBT) stood at Rs 49.43 crore, down 11.61% from Rs 55.92 crore reported in the same quarter of the previous year.
Total expenses spiked 20.06% YoY to Rs 377.66 crore in the March 2025 quarter. The cost of material consumed was Rs 155.49 crore (up 23.08% YoY), and employee benefits expenses stood at Rs 31.35 crore (up 29.44% YoY) during the quarter.
On a full-year basis, Safari Industries reported an 18.78% drop in net profit to Rs 13.60 crore, despite a 14.26% rise in revenue to Rs 1,771.58 crore in FY24 compared to FY23.
Meanwhile, the company’s board has declared a final dividend of Rs 1.50 per share for FY 2024-25, subject to shareholder approval at the upcoming annual general meeting.
Safari Industries (India) is engaged in the manufacturing and marketing of luggage and luggage accessories.