Monte Carlo Fashions posts Q1 net loss of Rs 6 crore
today Aug 9, 2019
Monte Carlo Fashions Ltd reported a net loss of Rs 6 crore ($8,51,787) for the first quarter ended June 2019, as compared a net profit of Rs 6.25 crore it had reported during the corresponding period of last fiscal.
The company’s revenue also dropped by 26 percent for the April-June quarter to Rs 60 crore as against Rs 81 crore it had reported in June 2018.
Earnings before interest tax depreciation and amortization (EBITDA) was down by 92 percent at Rs 0.26 crore in June 2019, from Rs 16 crore it had posted in the corresponding quarter of the last fiscal year.
Monte Carlo, which is known for its winter products mostly, typically reports poor numbers during the summer and monsoon quarters. The company, however, is planning to tweak its strategy to cater to all seasons to expand its product range for higher margins throughout the year.
For the financial year 2018-19, Monte Carlo had reported a profit of Rs 60 crore ($8.7 million) with revenue of Rs 656 crore mainly due to strong sales in the winter season.
Monte Carlo currently has over 253 exclusive brand outlets, over 2,500 multi-brand outlets, and 321 national chain stores. It also sells online through e-commerce firms like Flipkart, Amazon, Jabong, Myntra, and Kapsons.
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