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Monte Carlo Fashions stock hits 52-week high on registering highest ever sales in Q3FY22

The company continues to witness encouraging trends through its online channels as well.

January 05, 2022 9:49 IST | India Infoline News Service
Monte Carlo
Monte Carlo Fashions Ltd, a leading branded apparel company has announced that the rising trend in sales that was quite visible since the Q2FY22 continues to gain further momentum in Q3FY22 as the company records the best ever year to date sales on the back of bone-chilling winters, revenge shopping and an encouraging festive & wedding season.

"This year due to climatic change the winters are very chilly specially in the northern part of India and due to revival of economy post second wave of COVID-19 people are stepping out of their houses and spending money on lifestyle products. Moreover, the festive and weddings season in India has been very encouraging this year on the back of massive vaccination drive," said company in a regulatory filing.

Further it added, "We are happy to share that the company has surpassed its earlier guidance of 25% growth in sales. There is an increase in YTD sales by approx. 35% and 15% as compared to YTD Dec 20 (9M) and YTD Dec 19 (9M) respectively. The growth in sales is contributed by both volume growth and calibrated price increase."

The company has strategically enhanced its retail presence in India with the opening of 13 new EBO’s during Q3FY22. With this the total no. of EBO’s reach approx. 318 across 20 states and 4 union territories. Apart from this the company also has presence through MBO’s, NCS and over all the major online platforms like Amazon, Flipkart, Myntra, Jabong and Kapsons. In line with the commitment towards its customers the company launched brand new collection across categories and worked extensively in giving the new look and feel to all its EBO’s. The company continues to witness encouraging trends through its online channels as well.

At around 9:50 AM, Monte Carlo Fashions was trading at Rs674.15 apiece up by Rs10.7 or 1.61%, after hitting 52-week high at Rs715 per piece on Sensex.

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