Indian Terrain Fashions Ltd., reported a web lack of Rs. four crore for the December 2023 quarter, towards a web revenue of Rs. 2 crore within the earlier yr interval.
The corporate's income for the quarter decreased 10 % to Rs. 109 crore, up from Rs. 122 crore within the corresponding quarter of the earlier fiscal yr.
“We skilled a difficult quarter, primarily as a consequence of subdued demand and a mushy end-of-season providing (EOSS), compounded by the discontinuation of our youngsters's clothes enterprise. Our multi-brand (MBO) and enormous format (LFO) retailers felt the influence of gradual retail shopping for, whereas our on-line channel remained sturdy and continued to drive progress amid these market headwinds. Wanting forward, we stay assured of delivering improved efficiency regardless of the present weak demand surroundings as we imagine our strategic initiatives to enhance profitability place us effectively for future success,” mentioned Charath Narsimhan, CEO and CEO. from Indian Terrain.
Chennai-based Indian Terrain Fashions was based in 2000 by Venky Rajagopal as a premium good informal put on model for males. The model at present retails nationwide via its 200+ unique retailers, 1,000+ multi-brand retailers and 400+ massive format retailer doorways. In 2015, the corporate launched the Indian Terrain Boy model.