Monte Carlo Fashions reports net loss of Rs 19 crore for Q4
today May 21, 2019
Monte Carlo Fashions Ltd net loss widened to Rs 19 crore ($2.8 million) for the fourth quarter ended March 2019 as against a net loss of Rs 9 crore it had reported during the corresponding quarter last fiscal.
The company’s sales revenue rose 15 percent to Rs 96 crore in the quarter as against Rs 84 crore it reported during the last fiscal.
For the financial year 2018-19, Monte Carlo profit dropped 12 percent to Rs 60 crore. It had reported a profit of Rs 68 crore during the last fiscal year.
The company’s revenue for the full year jumped 14 percent to Rs 656 crore in 2019 as against Rs 586 crore it had posted during the previous year ended March 2018.
Monte Carlo, which is known for its winter products, is planning to tweak its strategy to cater to all seasons in order to expand its product range for higher margins throughout the year.
Launched in 1984, 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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