Indian Terrain Fashions Ltd reports Q2 net loss of Rs 22 crore

Indian Terrain Fashions Ltd reported widening of net loss to Rs 22 crore ($2.7 million) for the second quarter ended September 30, as against Rs 8 crore reported in the year-ago quarter.

The company’s revenue declined by 39 percent to Rs 86 crore, as against Rs 140 crore in the corresponding quarter of the previous financial year.

Indian Terrain attributed the decline in revenue to weak demand across retail & wholesale channels coupled with closure of non-performing exclusive brand outlets and large format stores.

Commenting on the Q2 results, Charath Narsimhan, managing director CEO of Indian Terrain in a statement said, “We witnessed a challenging quarter with a 38.8% year-over-year decline in sales primarily due to lower demand across retail and wholesale channels. Change in consumer behaviour and spending patterns, coupled with reduced footfalls in stores, further contributed to this decline.”

“Our strategic priorities include capitalizing on the growing trends of casualization and premiumization in the apparel segment while prioritizing profitability over volume-driven growth. We anticipate demand recovery in H2, supported by early festive and wedding season activity and we remain on track to achieve improved margins and operational efficiency in the coming quarters,” he added.

Indian Terrain Fashions retails across the country through its 234 exclusive outlets, multi-brand outlets, large format stores, and e-commerce platforms.