Cantabil Retail Q1 net down two fold

Cantabil Retail today posted a nearly two fold decline in its net profit at Rs 2.59 crore for the quarter ended June 30, 2011 as against the same period last fiscal.

The city-based apparel retailer had a net profit of Rs 4.99 crore in the quarter ended June 30, 2010, Cantabil Retail India said in a filing to the Bombay Stock Exchange (BSE).

During the reporting quarter, the firm had a net sales of Rs 42.02 crore, a 27.45% decline from Rs 57.92 crore posted in the year-ago period.

For the year-ended March 30, 2011, Cantabil Retail had a net profit of Rs 12.38 crore while it had net sales of Rs 186.04 crore during the period.