ABFRL Q3 Net Loss: Rs 107.60 Cr, Revenue at Rs 4,166.71 Cr
By Rediff Money Desk, NEWDELHI Feb 15, 2024 13:19
Aditya Birla Fashion and Retail Ltd (ABFRL) reported a consolidated net loss of Rs 107.60 crore for Q3 FY24, with revenue at Rs 4,166.71 crore. Growth was driven by new businesses, while traditional portfolio saw modest growth.
New Delhi, Feb 15 (PTI) Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 107.60 crore for the third quarter ended December 2023.
The company had posted a net profit of Rs 11.21 crore during the October-December quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL).
Its revenue from operations was at Rs 4,166.71 during the quarter under review. In the year-ago period, the company's revenue from operations stood at Rs 3,588.80 crore.
According to the Aditya Birla group firm, the consolidated financial results for the quarter ended December 31, 2023 are "not comparable with previous quarters" pursuant to the acquisition of TCNS Clothing and Styleverse Lifestyle.
ABFRL's total expenses were at Rs 4,302.93 crore in the December quarter.
Growth in the quarter was "driven by new businesses", ABFRL in an earnings statement said, adding the "overall market remained subdued leading to modest growth for the traditional portfolio."
Its revenue from the 'Madura Fashion & Lifestyle' segment was at Rs 2,940.82 crore, while Pantaloons' revenue was at Rs 1,297.47 crore.
Pantaloons continued to focus on product enhancements and driving higher conversions. "Pantaloons network grew to 446 stores this quarter as the business focused on overall improvement of the health of the network," it said.
While Reebok business posted another quarter of over Rs 100 crore sales, driven by continued distribution expansion and improved store throughputs, the filing said.
Over the outlook, ABFRL said it will continue to manage business dynamically, ensuring long-term growth and sustainability.
"Having solidified our presence across multiple categories, segments, channels, and price points, ABFRL is well placed to leverage the next wave of growth in the segment by unlocking its various growth platforms," it said.
Shares of Aditya Birla Fashion and Retail Ltd on Thursday were trading at Rs 238.15 on the BSE, down 2.08 per cent.
The company had posted a net profit of Rs 11.21 crore during the October-December quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL).
Its revenue from operations was at Rs 4,166.71 during the quarter under review. In the year-ago period, the company's revenue from operations stood at Rs 3,588.80 crore.
According to the Aditya Birla group firm, the consolidated financial results for the quarter ended December 31, 2023 are "not comparable with previous quarters" pursuant to the acquisition of TCNS Clothing and Styleverse Lifestyle.
ABFRL's total expenses were at Rs 4,302.93 crore in the December quarter.
Growth in the quarter was "driven by new businesses", ABFRL in an earnings statement said, adding the "overall market remained subdued leading to modest growth for the traditional portfolio."
Its revenue from the 'Madura Fashion & Lifestyle' segment was at Rs 2,940.82 crore, while Pantaloons' revenue was at Rs 1,297.47 crore.
Pantaloons continued to focus on product enhancements and driving higher conversions. "Pantaloons network grew to 446 stores this quarter as the business focused on overall improvement of the health of the network," it said.
While Reebok business posted another quarter of over Rs 100 crore sales, driven by continued distribution expansion and improved store throughputs, the filing said.
Over the outlook, ABFRL said it will continue to manage business dynamically, ensuring long-term growth and sustainability.
"Having solidified our presence across multiple categories, segments, channels, and price points, ABFRL is well placed to leverage the next wave of growth in the segment by unlocking its various growth platforms," it said.
Shares of Aditya Birla Fashion and Retail Ltd on Thursday were trading at Rs 238.15 on the BSE, down 2.08 per cent.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.80 ( -0.71)
- 44492337
- G V Films
- 0.94 (+ 9.30)
- 37404318
- Jaiprakash Power Ven
- 19.44 ( -3.38)
- 30530141
- Spicejet Ltd.
- 62.79 ( -4.25)
- 22824171
- Srestha Finvest
- 0.89 (+ 4.71)
- 21696619
MORE NEWS
Office Leasing Soars: 70 Mn Sq Ft Expected in 2024
CBRE predicts record office space leasing in India's top 9 cities in 2024, driven by...
SolarfiX India Partners with Kanemasa for 10 GW...
SolarfiX India has partnered with Japan-based Kanemasa to develop 10 GW solar module...
India Jewellery Park: Maha Govt Waives Stamp Duty
Maharashtra govt's stamp duty waiver on India Jewellery Park in Navi Mumbai hailed by...