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The Delhi-based retailer, Koutons Retail India, has posted net loss of Rs 317.10 crore for Q3 December 2010, compared with net profit of Rs 15.80 crore in Q3 December 2009.
The net sales plunged 59.62 per cent to Rs 108.77 crore in Q3 December 2010, over Q3 December 2009.
The company said that after a careful review it has decided to write off debtors and advances aggregating Rs 103.86 crore in Q3 December 2010.
The company also said it has provided for Rs 150 crore in Q3 December 2010 towards possible impairment in value of inventories.
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