Cupid Ltd. reported first-quarter net profit rose nearly fourfold to ₹8.25 crore as compared with ₹2.16 crore in the year earlier period.

The company’s total income for the quarter ended June 30, 2024 increased 25% to ₹44 crore as compared with ₹35.19 crore in the same period last year.

“We have continued to bring in efficiencies in overall production and domestic distribution,” said MD Aditya Kumar Halwasiya. “The company’s foray into B2C in India in the last seven months has resulted in net revenues of ₹12.50 crore and we are going to expand this pie substantially moving forward,” he said. “As a part of our Indian B2C expansion, we have built our presence across over 50,000 retail touch points in a short span of time and are on the horizon to reach 1,00,000 touch points by the end of the current calendar year,” he added. The company said its board had approved the incorporation of a wholly owned subsidiary in UAE to tap into the GCC region.