Asics India FY23 profit rises 37.7% to Rs 55.1 crore

Sports performance brand ASICS India's profit increased 37.74 per cent to Rs 55.11 crore for FY23, and its revenue from sales grew 35.85 per cent to Rs 340.85 crore, according to data accessed by business intelligence platform Tofler.

For FY22, it had reported a profit of Rs 40 crore, while its sales revenue stood at Rs 250.89 crore. ASICS India is a subsidiary of Asics Corporation, Japan, and is engaged in the trading of footwear, apparel and accessories.

Its other income in FY23 was Rs 3.84 crore. The company's total revenue in FY23 rose 36.98 per cent to Rs 344.85 crore against Rs 251.74 crore a year ago. This is the highest revenue earned in the last five years, according to the Tofler data.

The total expenses increased 36.72 per cent to Rs 271.20 crore in FY23 compared to Rs 198.35 crore in the year-ago period. During 2022-23, its 'Advertising promotional expenses' stood at Rs 24.78 crore.

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