Monte Carlo Fashions reports Q4 loss of Rs 10 crore
Monte Carlo Fashion Ltd reported a net loss of Rs 10 crore ($1.3 million) for the quarter ended March 2020, as against net loss of Rs 19 crore it had reported in the corresponding quarter last year.
The company’s sales revenue for the quarter under review rose 14 percent to Rs 109 crore, as against Rs 96 crore during the previous quarter ended March 2019.
For the financial year 2019-20, Monte Carlo Fashions net profit grew 5 percent to Rs 63 crore, as against Rs 60 crore it reported last year, while its revenue rose 11 percent to Rs 726 crore as against Rs 656 crore it posted during the previous year.
The company in an investor presentation said that it expects adverse impact on financial performance in H1FY21, due to the economic slowdown and lower demand. However, it also said that its strong presence in the winter wear market and a diversified product portfolio will minimise the impact of Covid-19 for the full financial year 2021
Monte Carlo 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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