Monte Carlo Fashions’ Q3 net profit down 4 percent

Monte Carlo Fashions has recorded a 4 percent slump in net profit to Rs 72 crore for the third quarter ended December 31, 2019, as against Rs 75 crore it had reported in the corresponding quarter of the previous fiscal year. The company’s net sales for the October-December quarter grew by 7 percent to Rs 406 crore as compared to Rs 381 crore it had reported during the period ended December 31, 2018. The company attributed this increase in revenue to a strong winter and festive season sales despite the ongoing economic slowdown which has impacted its overall performance for the year.

Monte Carlo is slowing shifting focus from being only a winter wear brand to an all-weather wear brand and expects strong growth in the coming years. The company has already added 27 stores during the current financial year and plans to add three-four more stores in the last quarter.