Aditya Birla Fashion and Retail Ltd (ABFRL) announced a consolidated net loss of Rs 2,663.5 crore for the fourth quarter ending March 2024.
In comparison, the company had posted a net loss of Rs 1,945.4 crore in the same period last year.According to a regulatory filing by Aditya Birla Fashion and Retail Ltd (ABFRL).
Revenue from operations for the quarter under review stood at Rs 3,406.65 crore, up from Rs 2,879.73 crore in the corresponding period last year.
ABFRL said that due to the acquisition of TCNS Clothing and Styleverse Lifestyle, its consolidated financial results for the quarter ending March 31, 2024 “are not comparable to previous quarters”.
Total expenses in the March quarter stood at Rs 3,813.87 crore.
“Our existing businesses continue to weather market headwinds while remaining focused on improving profitability.“, ABFRL said.
The ‘Madura Fashion & Lifestyle’ division’s revenue stood at Rs 1,861.75 crore, while Pantaloons reported revenue of Rs 895.03 crore. Ethnic and Other business achieved revenue of Rs 7,124.3 crore driven by higher same-store sales, network expansion and category expansion.
The Reebok division grew by an impressive 29 percent during the quarter, reaching a major milestone as the brand crossed the Rs 4,500 crore revenue mark in its first full year of operations under the company’s umbrella.
Recent developments include: The company announced that it would demerger its Madura business into a separately listed entity called Aditya Birla Lifestyle Brands Limited (ABLBL).
The report states:The strategic demerger of ABFRL paves the way for the creation of two independent growth engines, each with a distinct capital allocation strategy and unique value creation path. Each company will focus on specific growth areas aligned with its respective business model to maximize shareholder returns..”
ABFRL reported total revenue of Rs 3,494.14 crore for the March quarter.
“Net debt at the end of the quarter was Rs 2,862 crore, in line with guidance given earlier in the year,” the Aditya Birla Group company confirmed.
ABFRL reported a net loss of Rs 735.91 crore for the financial year ended March 31, 2024, compared with Rs 59.47 crore in the previous fiscal. Revenue from operations stood at Rs 13,995.86 crore for FY24.
As of March 2024, ABFRL has 9,563 sales points in department stores across India and boasts a network of 4,664 stores, including about 37,205 multi-brand outlets.
The company stocks a variety of well-known brands, including Louis Philippe, Van Heusen, Allen Solly and Peter England, and also operates the popular fashion retailer Pantaloons.
Additionally, ABFRL also retails international brands such as Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle, Reebok, Simon Carter and Galeries Lafayette.
On Tuesday, Aditya Birla Fashion and Retail Ltd’s shares closed at Rs 285.65 on the BSE, down 0.19 per cent.
