Compared to a net profit of Rs. 20 crore in the same quarter last year, Monte Carlo Fashions Ltd. recorded a net loss of Rs. 18 crore for the fourth quarter that concluded on 24th March 2024.
Compared to Rs. 237 crore in the same quarter of the previous fiscal year, the company’s revenue for the quarter decreased by 13 per cent to Rs 207 crore.
With an annual revenue of Rs. 1,062 crore, the company recorded a 55 per cent year-over-year fall in net profit for the financial year 2024, to Rs. 60 crore.
“Higher returns and discounts resulted in decline in margins. Our online sales have picked up, particularly from our own website which stood at Rs. 15 crore for FY 2024. Rock.it brand performed well during the year and our premium brand Luxuria, has also started contributing to sales,” Monte Carlo said in its investor presentation.
“The company is aggressively committed to opening 45-50 exclusive brand outlets pan India with focus on west and south Indian regions,” it added.
During the January-March quarter, Monte Carlo added 13 exclusive brand outlets across the country to end the financial year with a store count of 411.
