14 November 2024, Mumbai
The Q2, FY25 net loss of Indian Terrain Fashions widened to Rs 22 crore ($2.7 million) as against Rs 8 crore reported in the year-ago quarter.
The company’s revenue for the quarter declined by 39 per cent to Rs 86 crore, as against Rs 140 crore in the corresponding quarter of the previous financial year.
Indian Terrain attributed this revenue decline to a weak demand across retail and wholesale channels coupled with closure of non-performing exclusive brand outlets and large format stores. Charath Narsimhan, Managing Director and CEO, Indian Terrain says, this growth is attributed to a change in the consumer behavior and spending patterns, coupled with reduced footfalls in stores.
The brand aims to capitalise on the growing trends of casualisation and premiumisation in the apparel segment while prioritising profitability over volume-driven growth. Supported by an early festive and wedding season, demand is anticipated to recover n H2, and the brand remains on track to achieve improved margins and operational efficiency in the coming quarters, he adds
Indian Terrain Fashions retails across the country through its 234 exclusive outlets, multi-brand outlets, large format stores, and e-commerce platforms.
