Monte Carlo’s profits up, touches Rs 48 crore in Q3

Compared to Rs 35 crore, Monte Carlo Fashions net profit increased to Rs 48 crore (approx $7.5 million) for the quarter ended December 31 ) it had posted during the same period in the last financial year. The company’s revenue surged Rs 57 crore (approx $9 million) to Rs 357 crore (approx $55.7 million) during the period as compared to Rs 300 crore (approx $47 million) it had reported the previous year.

The brand says effect of demonetisation and implementation of the GST is now behind as it looks to attaining strong growth in the winter season. The company also launched its fitness brand Rock It during the quarter and plans to focus on newer markets for growth by further expanding its presence in the Western and South Indian markets in the coming quarter. It plans to scale up online presence through own portal and by partnering with e-commerce portals such as Flipkart, Jabong, Myntra and Snapdeal.

Monte Carlo incorporated in 2008 operates a network of 21 own exclusive brand outlets (EBOs), 207 franchise EBOs, 164 national chain stores and approximately 2,200 multi brand outlets.