Monte Carlo Fashions snaps 4-day wining streak; gains over 167% in one year

Monte Carlo Fashions slipped 0.96% to Rs 667.55, amid some bit of profit booking.

The stock had advanced 12% in four sessions to end at Rs 674.05 yesterday, from its recent closing low of Rs 601.85 recorded on 30 December 2021.

In the past one year, the stock has zoomed 167.84% while the benchmark Sensex has added 23.15% during the same period.

Earlier this week, Monte Carlo Fashions said that it had recorded its highest ever (year-to-date) YTD sales on the back of bone-chilling winters, revenge shopping and an encouraging festive & wedding season.

The company said that the rising trend in sales that was quite visible since the Q2 FY22 continued to gain further momentum in Q3 FY22.

The company said that it has surpassed its earlier guidance of 25% growth in sales. There is an increase in YTD sales by approximately 35% and 15% as compared to YTD FY20 and FY19, respectively. The growth in sales is contributed by both volume growth and calibrated price increase.

Monte Carlo is a branded apparel company with a comprehensive range of woollens, cotton, cotton blended, knitted and woven apparel for men, women and kids under the umbrella brand Monte Carlo.

The company's net profit surged to Rs 33.91 crore in the quarter ended September 2021 as against Rs 4.43 crore during the previous quarter ended September 2020. Sales rose to Rs 238.29 crore in Q2 FY22 from Rs 98.25 crore in Q2 FY21.

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