TCNS Clothing Co posts Q4 net profit of Rs 4 crore

By

Maverick Martins

Published
Jun 23, 2021

Apparel major TCNS Clothing Co reported a net profit of Rs 4 crore ($537,923) in the quarter ended March 2021, as against net loss of Rs 24 crore it reported in the year-ago period.
 

The company’s sales for the quarter rose by 1 percent to Rs 221 crore, as against Rs 219 crore it reported in the corresponding period last year.
 
For the full year 2020-21, TCNS reported a net loss of Rs 56 crore as against net profit of Rs 69 crore during the previous year ended March 2020, while its revenue declined 45 percent to Rs 636 crore as against Rs 1149 crore during the previous year ended March 2020.

“The company's operations and financial results for the quarter and financial year ended March 31, 2021 have been adversely impacted by the outbreak of Covid-19 pandemic and the consequent lockdown announced by the Government authorities due to which the operations were suspended for substantial part of the first half of the year. Covid-19 pandemic hit the country towards the end of the financial year again resulting into disruptions to our business. The results for the quarter and financial year ended March 31, 2021 are, therefore, not comparable with those for the previous periods,” TCNS said in its earnings statement.
 
TCNS Clothing currently has over 400 exclusive brand outlets across India for its various brands as well as over 1,300 large format store outlets, and 1,400 multi-brand outlets.