Monte Carlo Fashions posts Q4 net loss of Rs 4 crore
Monte Carlo Fashions Ltd reported a net loss of Rs 4 crore ($547,402) for the fourth quarter ended March 2021, as against a net loss of Rs 10 crore it posted in the corresponding period last year.
The company’s revenue for the quarter was also slightly down to Rs 108.76 crore in the quarter ended March 2021, as against Rs 109.47 crore during the previous quarter ended March 2020.
For the financial year 2020-21, the company’s net profit rose 6 percent to Rs 66 crore, as against the previous fiscal’s Rs 63 crore, while its revenue declined 14 percent to Rs 622 crore as compared to previous fiscal’s Rs 726 crore.
“The company reported strong revenue for the financial year despite disruption due to Covid-19, which reflects our strong business model and execution skills. The cotton segment contributed 51 percent to the overall revenue while online sales contributed 6 percent. We opened 28 new stores during FY21,” Monte Carlo said in its earnings statement.
Monte Carlo has over 298 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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