New Delhi-based apparel manufacturer and retail discount outlet firm Cantabil Retail India Limited recently posted a net loss of Rs. 1 crore (US $ 1,34,884) in the second quarter ended 30 September 2020, as compared to a net profit of Rs. 0.15 crore in the corresponding period of the last fiscal.
So far as the company’s sales for the quarter under review are concerned, it fell 37 per cent to Rs. 48 crore, as against Rs. 77 crore during the same period last year.
The company has evidently shown better results in the latest quarter as compared to the previous one.
Vijay Bansal, Chairman and Managing Director, Cantabil Retail India Limited, agreed, “We would like to share that our Q2 and H1 FY21 performance has been much better than the previous quarter, especially in such times.”
Commenting on the results, he further underlined that the company is now hoping to gain momentum in growth as compared to the past few months.
The upcoming festive season also brings more optimism and hopes for the company and it expects to see increased sales, Vijay added.
Cantabil Retail India is currently running around 298 of its exclusive brand outlets (EBOs) in India as well as retailing through e-commerce platforms.