Monte Carlo Q4 net profit jumps 56 percent to Rs 20 crore

By

Maverick Martins

Published
May 30, 2023

Monte Carlo Fashions Ltd recorded a 56 percent rise in net profit to Rs 20 crore ($2.5 million) for the quarter ended March 2023, as against Rs 13 crore in the year-ago period.

The company’s revenue for the quarter rose 48 percent to Rs 237 crore, as against Rs 162 crore in the corresponding period of the previous fiscal year.

Monte Carlo opened a total of 47 exclusive brand outlets (EBOs) to take its store count to 356 at the end of the 2023 financial year on March 31.

The company plans to open 40-45 new stores every financial year and expects a yearly growth of 20 to 25 percent.

Apart from its EBOs, Monte Carlo sells through multi-brand outlets, national chain stores and online through e-commerce firms like Ajio, Flipkart, Amazon, Myntra, among others.

Monte Carlo’s clothing offering caters to men, women, and teenagers and specialises in casual and semi-formal western wear.