{"id":142764,"date":"2023-02-24T09:00:27","date_gmt":"2023-02-24T14:00:27","guid":{"rendered":"https:\/\/44.250.171.167\/?p=142764"},"modified":"2023-02-24T09:00:29","modified_gmt":"2023-02-24T14:00:29","slug":"tcns-clothing-q3fy23-net-profit-dropped-by-98-percent","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/tcns-clothing-q3fy23-net-profit-dropped-by-98-percent\/","title":{"rendered":"TCNS clothing Q3FY23 net profit dropped by 98 percent"},"content":{"rendered":"\n<p>TCNS Clothing Company, a leading women&#8217;s apparel retailer in India, saw its shares drop by around 7% and hit a 52-week low after announcing its disappointing third-quarter earnings report.<\/p>\n\n\n\n<p>The company reported a net profit of only INR 50 lakh, which was down 98 percent year-on-year. The drop was attributed to higher depreciation, lower other income and interest expense, coupled with weak operational performance, which weighed on the bottom line.<\/p>\n\n\n\n<p>Furthermore, the company&#8217;s revenue also declined by 6.8 percent on year to INR 306.1 crore, dragged by specific fabric issues in brand W, muted B2B online sales, and challenges in Future Group-operated Central stores. EBITDA margin also contracted by 620 basis points to 13% in the Oct-Dec period. The EBITDA margin was still significantly lower than pre-COVID levels due to negative operating leverage.<\/p>\n\n\n\n<p>Brokerage firm ICICI direct expressed disappointment in TCNS Clothing Company&#8217;s Q3 revenue performance, stating that even an undisrupted festive season could not help the company report growth over pre-COVID levels. In a report, ICICI direct wrote, &#8220;Revenue and profitability remained lower than pre-COVID levels in Q3, which is a cause for concern, and improvement in both these parameters would be a key monitorable for the company&#8217;s performance.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TCNS Clothing Company, a leading women&#8217;s apparel retailer in India, saw its shares drop by around 7% and hit a 52-week low after announcing its disappointing third-quarter earnings report. The company reported a net profit of only INR 50 lakh, which was down 98 percent year-on-year. The drop was attributed to higher depreciation, lower other [&hellip;]<\/p>\n","protected":false},"author":1863,"featured_media":27118,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,85],"tags":[8879,145,11484],"class_list":["post-142764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-retail-stocks","tag-apparel-retail","tag-clothing","tag-westside"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2019\/04\/Earnings-preview-1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":147858,"url":"https:\/\/alphastreet.com\/india\/tcns-clothing-company-ltd-q4fy23-results-out-revenue-grows-by-15\/","url_meta":{"origin":142764,"position":0},"title":"TCNS Clothing Company Ltd Q4FY23 results out, revenue grows by 15%","author":"Chirag Gupta","date":"May 31, 2023","format":false,"excerpt":"TCNS Clothing Co. Ltd, incorporated in 1997 is a leading exclusive women\u2019s ethnic\/fusion apparel company providing fashion in a modern retail environment. It combines fashion and functionality according to the needs of contemporary Indian women need.\u00a0 TCNS Clothing Company Ltd reported Total revenue for Q4 FY23 of \u20b9269 Crore, up\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/10\/Earnings-Coverage.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":161226,"url":"https:\/\/alphastreet.com\/india\/tcns-clothing-company-ltd-q4fy24-22-fall-in-revenue\/","url_meta":{"origin":142764,"position":1},"title":"TCNS Clothing Company Ltd Q4FY24; 22% fall in Revenue","author":"Chirag Gupta","date":"May 16, 2024","format":false,"excerpt":"TCNS Clothing Co. Ltd, incorporated in 1997 is a leading exclusive women\u2019s ethnic\/fusion apparel company providing fashion in a modern retail environment. It combines fashion and functionality according to the needs of contemporary Indian women need. Financial Results: TCNS Clothing Co. Ltd reported Revenues for Q4FY24 of \u20b9211.00 Crores down\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-119.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-119.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-119.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-119.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-119.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2024\/05\/image-119.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":156801,"url":"https:\/\/alphastreet.com\/india\/tcns-clothing-co-ltd-q2fy24-36-fall-in-revenue\/","url_meta":{"origin":142764,"position":2},"title":"TCNS Clothing Co. Ltd Q2FY24; 36% fall in Revenue","author":"Chirag Gupta","date":"November 28, 2023","format":false,"excerpt":"TCNS Clothing Co. Ltd, incorporated in 1997 is a leading exclusive women\u2019s ethnic\/fusion apparel company providing fashion in a modern retail environment. It combines fashion and functionality according to the needs of contemporary Indian women need. Financial Results: TCNS Clothing Co. Ltd reported Revenues for Q2FY24 of \u20b9226.00 Crores down\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-366.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-366.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-366.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-366.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-366.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/11\/image-366.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":152992,"url":"https:\/\/alphastreet.com\/india\/tcns-clothing-company-ltd-q1fy24-12-fall-in-revenue\/","url_meta":{"origin":142764,"position":3},"title":"TCNS Clothing company Ltd Q1FY24; 12% fall in Revenue","author":"Chirag Gupta","date":"August 11, 2023","format":false,"excerpt":"TCNS Clothing Co. Ltd, incorporated in 1997 is a leading exclusive women\u2019s ethnic\/fusion apparel company providing fashion in a modern retail environment. It combines fashion and functionality according to the needs of contemporary Indian women need. Financial Results: TCNS Clothing Co. Ltd reported Revenues for Q1FY24 of \u20b9244.00 Crores down\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-771.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-771.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-771.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-771.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-771.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-771.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":123918,"url":"https:\/\/alphastreet.com\/india\/tcns-clothing-co-ltd-tcnsbrands-q4-fy21-earnings-concall\/","url_meta":{"origin":142764,"position":4},"title":"TCNS Clothing Co Ltd (TCNSBRANDS) Q4 FY21 Earnings Concall","author":"Sahil_Anand","date":"June 21, 2021","format":false,"excerpt":"TCNS Clothing Co Ltd (NSE:TCNSBRANDS) Q4 FY21 Earnings Concall dated June 21, 2021.","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/TCNS-Clothing-Co-Ltd-Q4-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/TCNS-Clothing-Co-Ltd-Q4-FY21-Earnings-Concall.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/TCNS-Clothing-Co-Ltd-Q4-FY21-Earnings-Concall.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/TCNS-Clothing-Co-Ltd-Q4-FY21-Earnings-Concall.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/TCNS-Clothing-Co-Ltd-Q4-FY21-Earnings-Concall.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/06\/TCNS-Clothing-Co-Ltd-Q4-FY21-Earnings-Concall.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":135641,"url":"https:\/\/alphastreet.com\/india\/marico-ltd-reported-a-3-decline-in-its-q2fy23-net-profits\/","url_meta":{"origin":142764,"position":5},"title":"Marico Ltd reported a 3% decline in its Q2FY23 net profits","author":"Chirag Gupta","date":"November 4, 2022","format":false,"excerpt":"On Friday, Homegrown FMCG major Marico reported a 2.8 percent year-on-year (YoY) drop in net profit at INR 301 crore for the second quarter that ended September 30, 2022 while in the corresponding quarter last year, the company posted a net profit of INR 316 crores. 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