India: Pantaloon Fashions net loss at Rs 435 million in Q2 2013-14
India: Pantaloon Fashions net loss at Rs 435 million in Q2 2013-14
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Pantaloons Fashion And Fashion Retail Ltd, a leading Indian retailer, and now a part of Aditya Birla Group, continues to be in the red, with losses of Rs 435 million during July-September, 2013-14. The company had suffered a loss of Rs 5782 lakh during the previous quarter. The retailer’s losses have been mounting over the last few quarters. During July-September, 2012-13, losses stood at Rs 1079 lakh.
Net sales during the second quarter at Rs 48122 lakh, is 10.17% higher than in the corresponding quarter, and 43% higher than in the previous quarter. High stock-in-trade and inventories have been putting pressure on the company’s performance.
