Monte Carlo Fashions shares extended gains to a second straight session on Monday, after the clothing and textiles company clocked record sales in the April-June period backed by easing cotton prices and strong store addition.

Share Market Live

NSE

The Monte Carlo stock rose by as much as Rs 21.8 or 2.8 percent to Rs 811.2 apiece on BSE, appreciating almost 12 percent in value in just two days.

Monte Carlo has outperformed most of its peers in the past few months.

During market hours on Friday, Monte Carlo Fashion said its sales in the April-June period increased 130 percent on a year-on-year basis, making it the best first quarter of a financial year ever, and 60 percent compared with the corresponding period ended June 2019.

The company saw strong demand across segments in terms of revenue with "things getting back to normal", the filing added.

Monte Carlo strengthened its retail presence with the opening of 11 new exclusive brand outlets during the three-month period, and is on track to complete its target of 30 in the year ending March 2023.

The company had earlier announced plans to open around 25-30 stores in the year ending March 2023.

With the addition, the total number of its exclusive outlets stands at 324, spread across 20 states and 4 Union Territories, it said.

In June, Monte Carlo Executive Director Sandeep Jain had told CNBC-TV18 that the company had already taken price hikes of 18-19 percent in a bid to maintain its margin.

For the year ended March 2022, the company reported a 72 percent increase in net profit to Rs 114 crore over a 45 percent jump in revenue on year.

Its EBITDA margin — or a company's operating profit as a percentage of its revenue, a key measure of profitability — increased by 133 bps on year to 19.9 percent, backed by a 14-55 percent jump in cotton, woolen and home textiles revenue.

Catch latest market updates with CNBCTV18.com's blog