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Praxis Home Retail recorded a net profit of INR 81 crore in the September quarter, showing a clear improvement after reporting losses in the same period last year and in the previous quarter. The company attributed this recovery to restructuring measures and higher operational efficiency. Praxis also became fully debt-free after receiving a complete waiver of all outstanding dues at the start of FY 2025-26, marking a major step in stabilising its financial position. The firm has also undergone a governance reset, now operating under new management and new shareholders committed to improved oversight.
Praxis Home Retail posted a net profit of INR 81 crore in the September quarter, reflecting a notable turnaround supported by restructuring measures and stronger operational efficiency. The company had reported a loss of INR 3 crore in the same quarter last year and a loss of INR 16 crore in the previous quarter. According to the company's statement, its Earnings Per Share for the period stood at INR 4.38. Advertisement
The management explained that this improvement resulted from deliberate changes undertaken to stabilise business operations and reduce financial pressure. One major development during the year was the company achieving a fully debt-free status. At the beginning of FY 2025-26, Praxis secured a complete waiver of its outstanding dues, which further strengthened its balance sheet and helped advance its broader revival strategy.
The statement also noted that the organisation has gone through a governance reset. Praxis is now led by new management and new shareholders, who are focused on building a structure based on transparency, accountability, and long-term planning.
The company said that CEO and Whole-Time Director Ashish Bhutda described the quarter's profit and debt-free status as significant progress, adding that these outcomes reflect the impact of the strategic and operational adjustments implemented across the business. He also indicated that with improved governance and committed shareholders, Praxis aims to build sustained value for all stakeholders.
Praxis Home Retail remains an established player in India's organised home retail market, offering contemporary home furnishings, decor items, and lifestyle products across its network.
Source PTI
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