07 August 2024, Mumbai
Compared to Rs 12 crore reported in the same quarter last year, Monte Carlo Fashions extended its net loss to Rs 13 crore ($1.5 million) in Q1, FY25 spanning Apr-June’24.
The company's revenue for the quarter decreased by 9 per cent to Rs 126 crore from Rs 139 crore in the corresponding period of the previous fiscal year.
During the quarter, Monte Carlo opened six company-owned and operated stores and five franchise stores. It plans to open additional 45-50 exclusive brand outlets across India, including in the West and South regions. The company has also reported a notable rise in its online sales, especially through its own website.
According to the company, the home textiles segment continues to grow at a healthy rate. Additionally, Monte Carlo's brand ‘Rock It’ performed well during the quarter and was well received by the market. Monte Carlo sells its products across India through a wide network of exclusive brand outlets (EBOs), multi-brand outlets (MBOs), national chain stores, and major e-commerce platforms.
