Monte Carlo Fashions has reported 39.8% fall in consolidated net profit to Rs 8 crore despite a 3.4% increase in revenue from operations to Rs 219.7 crore in Q2 FY25 as compared with Q2 FY24.
On the segmental front, revenue from sale of cotton textile products was Rs 171 crore (up 0.47% YoY), woollen textile product sale revenue was Rs 85.3 crore (up 6.63% YoY), revenue from selling home textile products was Rs 52.4 crore (up 58.31% YoY) and revenue from sale of kids clothing product was Rs 16.7 crore (down 17.96% YoY).
While operating EBITDA declined by 17% year-over-year (YoY) to Rs 28.3 crore, operating EBITDA margins contracted by 316 basis points YoY to 12.88% in the second quarter.
Profit before tax in Q2 FY25 stood at Rs 10.9 crore, down by 38.8% from Rs 17.8 crore in Q2 FY24. Tax outgo for the period under review was Rs 2.9 crore, down 35.6% YoY.
Monte Carlo Fashions stated that it is committed to opening 45-50 EBOS pan India Including West & South.
The companys online sales have picked up, particularly from its own website. The company has tied up with quick commerce partners like Blink it, Swiggy and Zepto for upto 30 minutes delivery.
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Home Textiles division continued to show good growth, and the company has opened 6 EBOS for Home textiles exclusively as on 30 September 2024 and plans to continue to open more stores.
The company has opened 3 EBOS and will continue to open more in sizes of 500 to 1000 square feet. The firm has collaborated with Sales Force Inc. to streamline and enhance operational efficiency.
Monte Carlo Fashions provides a diverse range of products, such as woollen, knitted, cotton, cotton blended, kids' wear, and home furnishing items.
The scrip had advanced 3.13% to end at Rs 783.30 on the BSE on Thursday.
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