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Will turn profitable in FY19, says Archies

videos | Apr 24, 2018 12:58 PM IST

Will turn profitable in FY19, says Archies

Delhi-based greeting card maker Archies today said company will turn profitable in FY19.

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Speaking to CNBC-TV18, Raghav Moolchandani, Head of National Sales, said, "We will be covering our Q1 loss. Moving forward with FY19, you will see some great results from the company and it is going to be profitable quarter-on-quarter."
“We are much more optimistic with our operations now. Archies has been seeing turbulent times in the last four years. We are far more optimistic towards the new financial year,” he said.
Speaking on future plans, he said company is planning to open 30-35 new stores and there is no proposal for shutting down any running stores.
He denied reports that promoters were looking to sell their stake in the company.
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