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Indian Terrain Fashion posts Rs 32.25 cr loss

  

Menswear brand Indian Terrain Fashion posted a net loss of Rs 32.25 crore for its quarter ended June 30, 2020, as against net profit of Rs 18.67 crore posted for the period ended March 31, 2020. The company reported total income of Rs 17.83 crore during the period as compared to Rs 79.67 crore during the period ended March 31, 2020. Explaining the figures the company said in a statement: “The company had to close its stores across locations during the quarter under review. The impact of the Covid-19 pandemic on the overall economic environment being uncertain may affect the underlying assumptions and estimates used to prepare the company's financial statements." “Indian Terrain Fashions resumed its business activities by reopening its warehouse and retail stores on a gradual basis in line with the guidelines issued by the Central and state governments,” the company added.

On a yearly basis, the company posted net loss of Rs 32.25 crore for the period ended June 30, 2020 as against net profit of Rs.3.75 crore for the period ended June 30, 2019. Total income was Rs 17.83 crore during the period ended June 30, 2020 as compared to Rs 84 crore during the period ended June 30, 2019.

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