Croma sales rise five percent, losses narrow slightly

Infiniti Retail, the Tata-owned consumer electronics and smartphone retailer which owns the Croma chain, registered a 5% increase in total income in 2020-21 to Rs 5,449 crore, while its net loss was lower by 1% at Rs 201 crore, the company’s regulatory disclosures show.

The company’s sales grew despite the pandemic-led lockdowns and restricted store operating hours. Two industry executives attributed this to high demand for smartphones, laptops and appliances as the intermittent lockdowns continued till the Diwali quarter. All leading electronics companies, including LG, Samsung, HP, Lenovo, Xiaomi, Apple and Realme had posted their best-ever sales during the Diwali festival.