In Q3 FY23 that ended in December 2023, Indian Terrain Fashions reported a net loss of Rs 4 crore ($481,729) as against a net profit of Rs 2 crore in the year-ago period.
The company’s revenues for the quarter declined by 10 per cent to Rs 109 crore, as against Rs 122 crore in the corresponding quarter of the previous fiscal year.
Charath Narsimhan, CEO & Managing Director, Indian Terrain, says, subdued demand and a soft End of Season Sale have posed several challenges before the retailer in the third quarter. The problem is compounded by the discontinuation of its Boys’ wear business. its multi-brand outlets (MBO) and large format outlets (LFO). While the company’ online channel remained robust, continuing to drive growth amidst these market headwinds.
Looking forward, Indian Terrain Fashions aims to deliver improved performance despite ongoing sluggish demand environment as the company’s strategic initiatives to improve profitability positions it adequately for future success, he adds
Moreever, Indian Terrain retails across the country through its exclusive outlets, MBOs, LFOs and leading e-commerce platforms.
