Indian Terrain Fashions sustained a net loss of Rs. 15 crore for the financial year ending in March 2024, against the Rs. 7 crore net profit achieved in the last fiscal year. The company witnessed a 9 per cent decrease in revenues, falling from Rs. 501 crore to Rs. 456 crore in comparison to the last fiscal year concluding in March 2023. However, there was a minor improvement in net profit, recording Rs. 0.03 crore in the fourth quarter of FY ’24, with revenues attaining Rs. 114 crore.
Charath Narsimhan, MD and CEO of Indian Terrain, clarified that the brand faced challenges amidst a tough external environment distinguished by sluggish consumer spending. This resulted in reduced sales from select brand outlets (EBO) and big format outlet (LFO) counters. Furthermore, ceasing the brand’s boy’s segment had an undesirable impact on largely revenue and profitability.
Despite these problems, the company’s menswear segment persisted in performing steadily. Indian Terrain managed to maintain profitability amidst tough market conditions by prioritising revenue quality via controlled discounts and better margins. As a famous menswear fashion brand, Indian Terrain runs across India through 236 select outlets, big format stores, multi-brand outlets, and well-known e-commerce platforms.
