Monte Carlo plummets 12% after Q1 loss widens

In Q4, the company reported a net profit of Rs 19.8 crore

Monte Carlo Limited shares slumped 12 percent in the morning trade on August 8 after the company's losses widened to Rs 11 crore in the June quarter from Rs 3.9 crore in the year-ago quarter.

The company reported a net profit of Rs 19.8 crore in the March quarter.

The apparel brand's revenue from operations increased 22 percent to Rs 139 crore from the corresponding quarter of the last fiscal, as the cost of raw materials dipped marginally.

Monte Carlo's finance costs increased more than 90 percent to Rs 7 crore against Rs 3.7 crore reported in the same period last year, the company said on August 7.

Monte Carlo Fashions Limited is a clothing company based in India. It is an apparel retailer and manufacturer of woollen and cotton garments for men, women and kids.

At 10.15 am, the share was trading at Rs 800 on the National Stock Exchange, down 11.05 percent from the previous close.

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