Cantabil Retail Q2 FY21 revenue slips to ₹53 cr

Cantabil Retail India Ltd, an apparel manufacturer and retailer, has reported decrease in its revenue to ₹53.2 crore in its second quarter (Q2) FY21 ended on September 30, 2020 compared to revenue of ₹77.7 crore in same period previous year. Company incurred a loss from continuing operations of ₹69.1 crore (Q2 FY20: profit ₹15.3 crore).

 

Cantabil Retail India Ltd, an apparel manufacturer and retailer, has reported decrease in its revenue to ₹53.2 crore in its second quarter (Q2) FY21 ended on September 30, 2020 compared to revenue of ₹77.7 crore in same period previous year. Company incurred a loss from continuing operations of ₹69.1 crore (Q2 FY20: profit ₹15.3 crore). #

“The lockdown has almost been lifted and stores are now functioning on daily basis as before. Our company expects momentum in growth to come in as compared to past few months. This gives us hope and makes us optimistic as festive season is around the corner, so sales should be picking up,” Vijay Bansal, chairman & managing director, Cantabil Retail India Limited said.

 

Cantabil Retail India Ltd, an apparel manufacturer and retailer, has reported decrease in its revenue to ₹53.2 crore in its second quarter (Q2) FY21 ended on September 30, 2020 compared to revenue of ₹77.7 crore in same period previous year. Company incurred a loss from continuing operations of ₹69.1 crore (Q2 FY20: profit ₹15.3 crore). #

Loss before tax for Q2 FY21 was ₹100.3 lacs (profit: ₹54.3 lacs). Company’s total comprehensive loss for the period was ₹75.2 lacs (profit: ₹44.4 lacs).

 

Cantabil Retail India Ltd, an apparel manufacturer and retailer, has reported decrease in its revenue to ₹53.2 crore in its second quarter (Q2) FY21 ended on September 30, 2020 compared to revenue of ₹77.7 crore in same period previous year. Company incurred a loss from continuing operations of ₹69.1 crore (Q2 FY20: profit ₹15.3 crore). #

“The company is being very cautious about opening new stores as well as focus on stability, growth and sustainability of the existing stores. However, we do have some stores in pipeline which will be opening soon when the management is confident about it and sees the industry’s sustainable growth. The company is currently operating with 298 exclusive brand outlets (EBOs),” Bansal said.