Monte Carlo Fashions net profit rises 21 percent to Rs 75 crore
Monte Carlo Fashions Ltd net profit for the third quarter ended December 2018 jumped 21 percent to Rs 75 crore ($10.5 million) as against Rs 62 crore it had reported during the same period last fiscal.
The company’s sales revenue rose 16 percent to Rs 376 crore on the back of strong sales of its winter products during October to December period. It had reported sales of Rs 324 crore during the previous quarter ended December 2017.
The cotton segment was the highest contributor to the company’s revenue with 51 percent sales followed by woollen segment at 35 percent. Textile and kids segment also delivered strong growth, contributing higher revenue for the overall business.
Commenting on the outlook, the company in a statement said, “The Company is expanding presence in western and southern markets as well as expanding its product offerings in home furnishing and kids segments in order to reduce the overall seasonality impact.
“The company will focus on a comprehensive range of cotton and cotton-blended products which cater to all seasons in-order to expand our all-season product range and strengthen our pan-India operations,” it added.
Launched in 1984, Monte Carlo is one of the leading brands in the apparel industry in India. The company ended the third quarter with 253 exclusive brand outlets, over 2,500 multi-brand outlets, and 321 national chain stores.
It also sells online through E through own portal www.montecarlo.in and www.rockit.co.in as well through tie-ups with e-commerce firms like Flipkart, Amazon, Jabong, Myntra and Kapsons.
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