The ethnic clothing company TCNS Clothing announced a net loss for the quarter that concluded on 31st March 2024, of Rs. 63.60 crore according to a BSE filing. In comparison, the company’s profit for the same quarter last year was Rs. 28.12 crore.
Last year, Aditya Birla Fashion and Retail bought a 51 per cent share in the business. TCNS experienced a decrease in its operating revenue to Rs. 211.32 crore from Rs. 268.55 crore during the March quarter of the previous year. The main player in ethnic garments had a dip in full-year sales, from Rs. 1,201.58 crore in FY ’23 to Rs. 959.55 crore in FY ’24.
