Indian Terrain Fashions Ltd Q2 net profit down 45 percent to Rs 4 crore
Indian Terrain Fashions Ltd witnessed a 45 percent decline in its net profit to Rs 4 crore ($5,58,834) for the second quarter ended September 30, 2019, as against Rs 8 crore it had reported for the period ended September 30, 2018.
The company’s sales revenue also dropped 7 percent to Rs 117 crore for the quarter under review, as against Rs 126 crore it had reported in the year-ago period.
Indian Terrain’s poor numbers for the quarter were due to the overall slowdown in the Indian market coupled with the liquidity crunch.
For the financial year 2018-19, Indian Terrain had posted strong results with a net profit of Rs 26 crore and sales revenue of Rs 422 crore.
The company has been expanding aggressively and has plans to open around 150 new outlets across India. Indian Terrain is hoping for a revival in the second half on the back of its retail expansion and strong festive season sales.
Indian Terrain currently sells through more than 1,000 multi-brand outlets, 160 exclusive-brand outlets, and is also available on leading e-commerce platforms across India.
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