TCNS Clothing Ltd posts Q4 loss of Rs 64 crore

Ethnic wear retailer TCNS Clothing Ltd reported a net loss of Rs 64 crore ($7.8 million) for the fourth quarter ended March 31, as against a loss of Rs 28 crore in the year-ago period.

The company’s revenue for the quarter declined to Rs 211 crore, as against Rs 269 crore in the corresponding quarter of the previous fiscal year.

For the full year, the company reported a net loss of Rs 289 crore with sales declining 20 percent over last year to Rs 960 crore.

During the financial year, Aditya Birla Fashion Retail Limited had acquired a 51 percent stake in womenswear business TCNS Clothing to become a promoter.
 
TCNS Clothing is one of India’s leading women’s branded apparel companies with over 600 exclusive brand outlets, over 2,300 large format store outlets, and 1098 multi-brand outlets spread across 29 Indian states. Internationally, TCNS Clothing retails in Nepal, Mauritius, and Sri Lanka.