Aditya Birla Fashion And Retail’s Net Loss at 37% In Q4FY’24
In the fourth quarter of fiscal 2023-24, net loss at Aditya Birla Fashion and Retail Ltd (ABFRL) stood at 37 percent and reached Rs 266 crore compared to Rs 195 crore in the comparable months of earlier fiscal.
Revenue in the January to March period at the Aditya Birla Group company grew to Rs 3,407 crore, up 18 percent from 2,880 crore in the fourth quarter of fiscal 2022-23.
“For the 12 months of 2023-24 fiscal, ABFRL recorded revenues totaling to Rs 13,996 crore and net loss at Rs 736 crore,” the Aditya Birla Group said in a press release.
“Growth in the quarter was predominantly driven by new businesses. All businesses, with a clear focus on profitability enhancement, posted EBITDA margin expansion this quarter,” ABFRL added.
“Net profit for the quarter and the year was impacted by increased interest costs due to elevated borrowings compared to last year, primarily because of the TCNS acquisition,” the company stated.
“With consumption remaining sluggish over the past 6-8 quarters, the company has focused on a long-term strategy to build strong brands, while operating with flexibility and agility,” ABFRL informed.
It has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England established for over 25 years, while Pantaloons is one of India’s leading fashion retailers.
ABFRL which manages several fashion brands ended fiscal 2023-24 with a network of 4,664 stores, 37,205 multi-brand outlets and 9,563 point of sales in department stores across India.
