Cantabil Retail India reports Q2 net loss of Rs 1 crore

By

Maverick Martins

Published
Nov 10, 2020

Cantabil Retail India reported a net loss of Rs 1 crore ($1,34,884) in the quarter ended September 2020, as against a net profit of Rs 0.15 crore during the previous quarter ended September 2019.
 

The company’s sales for the quarter declined 37 to Rs 48 crore, as against Rs 77 crore it reported in the corresponding quarter last fiscal.
 
Commenting on the results, Vijay Bansal, chairman and managing director of Cantabil Retail India Limited, in a statement said: “We would like to share that our Q2 and H1 FY21 performance has been much better than the previous quarter, especially in such times. The lockdown has almost been lifted and stores are now functioning on daily basis as before.”

“Our company expects momentum in growth to come in as compared to the past few months. This gives us hope and makes us optimistic as festive season is around the corner, so sales should be picking up. The company is being very cautious about opening new stores as well as focus on stability, growth, and sustainability of the existing stores,” he added.
 
Cantabil has resumed the majority of its operations and currently operating with 298 exclusive brand outlets in the country and also sells online on e-commerce platforms.