Indian garment manufacturer, TCNS Clothing Co. Ltd., which specialises in womenswear and even retails popular brands such as W, Aurelia and Wishful, registered a 35 percent surge in its net profit to Rs. 37 crore. The figures are for the third quarter of the current fiscal.
In the similar quarter of the previous years, TCNS witnessed Rs. 27 crore in net profit.
During the reporting quarter, the apparel manufacturer’s net sales improved by 22 percent to settle at Rs. 300 crore. The reason behind such an increase in business was the strong festive season sales during the October-December period.
The apparel company’s revenue stood at Rs. 245 crore in the corresponding quarter of the prior fiscal year.
Earnings before interest, tax, depreciation and amortization (EBITDA) of TCNS Clothing reached Rs. 53 crore in December 2018, up 30 percent from Rs. 40 crore in the similar month of 2017.
Total sales for the nine-month period this fiscal were Rs. 863 crore as against Rs. 748 crore during the previous fiscal’s nine-month period.
TCNS’ net profit for the recent nine months was Rs. 99 crore as against Rs. 76 crore last fiscal.
Notably, the company also has more than 400 Exclusive Brand Outlets (EBOs) across the country. It also has 1,305 large format store outlets and 1,361 multi-brand outlets.
TCNS also has a retail presence in countries like Nepal, Sri Lanka and Mauritius.
Download Perfect Sourcing News App for Latest Business of Fashion News.