Aditya Birla Fashion posts profit of ₹94.44 cr
- The retailer of clothing brands such as Louis Philippe, Van Heusen and Allen Solly posted consolidated revenue from operations of ₹2,874.76 crore in the three months ended June, a more than threefold rise from ₹811.95 crore a year earlier
Aditya Birla Fashion and Retail Ltd (ABFRL) turned to a net profit of ₹94.44 crore in the June quarter, compared to a year-earlier net loss of ₹352.15 crore.
The retailer of clothing brands such as Louis Philippe, Van Heusen and Allen Solly posted consolidated revenue from operations of ₹2,874.76 crore in the three months ended June, a more than threefold rise from ₹811.95 crore a year earlier when business was severely hit due to the pandemic. Earnings before interest, taxes, depreciation and amortization (Ebitda) margin expanded by 1.3 percentage points to 17.4% in the quarter, the company said in a regulatory filing on Friday.
“A sharp recovery in demand across categories and strong preference for our portfolio of brands led to a robust quarterly performance. Aggressive store expansion, accelerated e-commerce and omni-channel play have been key drivers of growth in the quarter,” it said.
ABFRL gained from a sharp revival in demand for formal wear as more people resumed work from offices.
Meanwhile, the company continued “aggressive” expansion of retail stores of its lifestyle brands such as Van Heusen and Peter England.
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First Published:6 Aug 2022, 12:16 AM IST
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