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Wednesday, February 28, 2024

Monte Carlo Fashions Q3 net profit down 10 percent to Rs 77 crore

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Monte Carlo Fashions Ltd reported a 10 percent decline in net profit to Rs 77 crore ($9.7 million) for the third quarter, as against Rs 86 crore in the year ago period.

Monte Carlo Fashions Q3 net profit down 10 percent to Rs 77 crore – Monte Carlo

The company’s revenue for the quarter was down by 3 percent to Rs 504 crore, as against Rs 520 crore posted in the December quarter of 2022.

Monte Carlo opened 22 company owned outlets and 26 franchisee owned franchisee operated outlets during the nine-month period of April-December.

The business runs 10 percent of its stores as company owned company operated outlets and the other 90 percent are franchise owned and franchise operated.

The company achieved a turnover of Rs 71 crore through online channel for 9 months of financial year 2024 while sales through own website stood at Rs 10 crore.

Monte Carlo sells through its website, exclusive brand outlets, multi-brand outlets, distributors along with online platforms like Ajio, Amazon, Flipkart, Firstcry, Myntra, among others.

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