Monte Carlo Fashions profit up to Rs 48 crore, to focus on new markets for growth

By

Maverick Martins

Published
Feb 8, 2018

Monte Carlo Fashions Ltd net profit rose to Rs 48 crore (approx $7.5 million) for the quarter ended December 31 as compared to Rs 35 crore (approx $5.5 million) it had posted during the same period in the last financial year.
 

The company’s revenue surged by 57 crore (approx $9 million) to Rs 357 crore (approx $55.7 million) during the period as compared to Rs 300 crore (approx $47 million) it had reported the previous year, the company said in a statement.
 
Monte Carlo said that the effect of demonetisation and implementation of the Goods and Services Tax is now behind it, as it looks to attain strong growth in the winter season.

The company also launched its fitness brand Rock It during the quarter and plans to focus on newer markets for growth by further expanding its presence in the Western and South Indian markets in the coming quarter.
 
It also plans to scale up its online presence through own portal and by partnering with e-commerce portals such as Flipkart, Jabong, Myntra and Snapdeal.
 
Monte Carlo, incorporated in 2008, operates a network of 21 own exclusive brand outlets (EBOs), 207 franchise EBOs, 164 national chain stores and approximately 2,200 multi-brand outlets.