Despite a rise in revenue in fiscal 2016 as compared to previous fiscal, revenue was less as compared to the initial forecast by the company. This was because of the strengthening yen as compared to other major currencies and competitive scenario in the major markets.
Operating profit in the current fiscal decreased 8.7 per cent to ¥60,069 million as compared to ¥65,762 million in the previous fiscal.
Operating profit decreased mainly due to the yen's appreciation against the euro towards end of the fiscal year.
Profit for the year stood at ¥32,000 million as compared to ¥40,969 million previously, a fall of 21.9 per cent. (MCJ)
Fibre2Fashion News Desk - India
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