Benetton struggles in India, posts net loss of 49 crores

Reporting one of its worst results in the country over a decade, Italian fashion retailer Benetton revealed a 5 percent drop in its revenue in India to Rs 699 crores with net loss of Rs 49 crores for the fiscal year ended March 2017, reports Economic Times quoting data filed by the company with the Registrar of Companies (RoC). These number compare with sales of Rs 735 crores and a profit of Rs 2.3 crore posted by the company in the previous year.