Monte Carlo Fashions aims to open 45-50 exclusive brand outlets pan India with focus on west and south Indian regions. The brand added 13 EBOs across the country during the January-March quarter to end the financial year with 411 stores.
In Q4, FY24, Monte Carlo Fashions registered a net loss of Rs 18 crore as against a net profit of Rs 20 crore in the corresponding quarter of the previous year.
The company also registered a 13 per cent decline in revenue to Rs 207 crore during the quarter, as against Rs 237 crore in the corresponding quarter of the previous fiscal year.
For the financial year 2024, the company’s net profit declined by 55 per cent Y-o-Y to Rs 60 crore with an annual revenue of Rs 1,062 crore.
Profit margins of the company declined on higher returns and discounts. There was a surge in online sales to Rs 15 crore during FY24. The brand Rock.it performed well during the year while the premium brand Luxuria also contributed to sales.
