TCNS Clothing, an ethnic-wear brand, has reported a net loss of INR 63.60 crore for the quarter ended March 31, 2024, according to its BSE filing. This marks a significant increase from the INR 28.12 crore loss reported in the same quarter last year.
Last year, Aditya Birla Fashion and Retail acquired a 51 percent stake in the company.
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TCNS saw its revenue from operations decline to INR 211.32 crore in the March quarter, down from INR 268.55 crore in the same period last year.
On a full-year basis, the ethnic apparel major’s sales dropped to INR 959.55 crore in FY24, compared to INR 1,201.58 crore in FY23.
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