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16 February 2022, Mumbai:
For the third quarter ending December 2021, TCNS Clothing Co saw a 98 percent increase in net profit to Rs 25 crore ($3.6 million), up from Rs 13 crore the previous year.
The company's sales for the quarter increased by 38% to Rs 329 crore, up from Rs 237 crore in the previous fiscal year's similar period. "The offline channel recovered back quickly to surpass 90% against pre-covid levels," TCNS said in its quarterly statement on Q3 results.
Following the second wave, the recovery was more fairly spread across city tiers and store kinds. Our website outperforms other platforms and currently generates high teen amounts of internet money."
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"D2C business is driving growth," it continued, "continuing to provide more than 50% of online sales.
" TCNS Clothing now has over 400 exclusive brand outlets, over 1,300 large format retail outlets, and 1,400 multi-brand stores across India for its numerous brands.
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*Figures mentioned in the above article have been sourced from Equity Bulls Money Control & Fashion Network article.
