Monte Carlo Fashions hits 20% upper limit on near 8-fold jump in Q2 net

Further, the company's board has approved incorporation of a wholly-owned subsidiary which will leverage the growth opportunities in the "Home Textiles"

Shares of Monte Carlo Fashions were locked at the 20 per cent upper circuit at Rs 523.05, also its 52-week high on the BSE after the company posted robust set of numbers. The company's net profit jumped nearly eight-fold to Rs 33.91 crore in the September quarter (Q2FY22). The company manufacturing and trading of textile garments had profit of Rs 4.43 crore in Q2FY21. It had posted net loss of Rs 10.18 crore in June quarter (Q1FY22).

The company’s revenue from operations more-than-doubled or up 142 per cent year on year at Rs 238 crore from Rs 98.25 crore