Despite a delayed 2014 winter, sales in the third fiscal quarter ended December 31, 2014 at fashion apparel marketer Monte Carlo Fashions, surged 18.7 per cent from a year earlier quarter.
Monte Carlo said revenues rose 18.7 per cent to Rs. 3168.6 million from Rs. 2668.7 million in the third quarter of fiscal 2013-14.
“The key reasons behind this strong revenue growth were the persuasive brand positioning and the robust distribution network the company has maintained,” Monte Carlo said.
“Depreciation for the quarter was higher due to the change in depreciation policy as per the New Companies Act 2013,” Monte Carlo said.
Cash profit for the third quarter of fiscal 2014-15 also ascended massively by 30.4 per cent to Rs. 480.9 million compared to Rs. 368.9 million in a year earlier quarter.
“With respect to understanding the impact of seasonality, it should be noted that a significant amount of revenue is generated primarily during the third quarter of each fiscal year. Winter clothing products are typically higher in value and accordingly generate higher revenue, in comparison with non-winter products,” the brand said.
Monte Carlo added 11 exclusive retail outlets with a combined area of 10,895 sq. ft. It also recently started its e-commerce portal and has established tie-ups with several other online portals.