Indian Terrain Fashions Limited, a prominent name in the men’s casual wear market, reported a significant widening of its net loss to Rs. 15 crore for the April-June quarter, compared to a net loss of Rs. 3 crore in the same period last year.
The company’s revenue for the quarter dropped by 26 per cent, down to Rs. 68 crore from Rs. 92 crore in the corresponding quarter of the previous fiscal year.
Addressing the Q1 results, Charath Narsimhan, Managing Director and CEO of Indian Terrain commented, “This quarter has been particularly challenging, marked by subdued market demand, which led to a significant decline in revenue from both our retail and wholesale segments. The strategic decision to discontinue our boy’s wear operations, along with a decrease in men’s wear sales, further pressured our margins and overall profitability.”
“Despite these challenges, we remain committed to our strategic priorities and believe that revenue has bottomed out, with expectations of improvement in the coming quarters,” he added.
Indian Terrain operates across the country through 234 exclusive outlets, multi-brand outlets, large format stores such as Lifestyle, Shoppers Stop, Pantaloons, and leading e-commerce platforms.
