12 July 2022, Mumbai:
Monte Carlo’s revenue grew 130 percent in the April-June quarter this fiscal, helped by volume growth and price increase. During the quarter, the company saw strong demand across segments.
Growth in sales was contributed by both volume growth and calibrated price increase on the back of a steep rise in cotton prices.
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The quarterly sales not only surpassed pre-COVID levels but were the best ever for the company on the back of strong brand equity among consumers, the latest fashion products and superior quality aided by the solid end-of-season sales, and an encouraging festive and wedding season across India.
Monte Carlo which operates in segments such as woolens, cotton, cotton blended, knitted, and woven apparel, has also strengthened its retail presence in India with the opening of 11 new exclusive outlets. With this, the total number of EBOs has reached approximately 324 across 20 states and four union territories.
The company is well on track to complete the target of opening 30 exclusive outlets this financial year. The company continues to witness encouraging trends through its online channels as well. For the financial year ended March 31, 2022, Monte Carlo’s consolidated income was Rs 929.80.89 crore.
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