Monte Carlo Fashions posts Q2 net profit of Rs 7 crore
Monte Carlo Fashions Ltd’s net profit for the second quarter ended September dipped by one percent to Rs 6.78 crore ($9,43,135), as against Rs 6.83 crore it had posted in the year-ago period.
The textile and kids segment delivered robust growth during the quarter, contributing higher revenue to the overall business.
The company’s sales revenue for the quarter rose 21 percent to Rs 157 crore, as compared to Rs 130 crore it had reported during the period ended September 30, 2018.
During the July-September period, Monte Carlo Fashions opened 14 new stores and closed six unprofitable stores. The company also installed an automatic whole-garment state-of-art manufacturing facility at the existing Ludhiana unit.
Monte Carlo also started sales through shop in shops during the quarter and plans to focus on online Sales through own portal in the coming months.
Monte Carlo, which is known for its winter products, is expecting strong sales over the next two quarters, due to the onset of the winter season across India.
The company currently has over 253 exclusive brand outlets, 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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