by Apparel Resources News-Desk
08-August-2019 | 1 min read
Q1 2019 has done wonders for Aditya Birla Fashion and Retail Limited (ABFRL)!
The fashion conglomerate has witnessed a sixfold jump in its net profit to Rs. 39 crore during Q1 ended June.
This extraordinary jump is majorly owing to higher revenues from premium brands.
Its net sales rose 7.94 per cent to Rs. 2,065.46 crore during the quarter, as compared to Rs. 1,913.52 crore in the corresponding quarter of the previous fiscal year.
ABFRL’s total expenses were at Rs. 2,047.83 crore as against Rs. 1,916.39 crore, up by 6.85 per cent.
The company’s Madura division that includes brands such as Louis Philippe, Forever 21, Van Heusen and Allen Solly saw a growth of 10 per cent to Rs. 1,210 crore while Pantaloons segment reported a 9.5 per cent increase in revenue at Rs. 890 crore.
“We saw strong growth across segments. While consumer demand saw pressure at an overall economy standpoint, the migration from unorganised to branded continued and helped us grow in a tough market,” said Ashish Dikshit, Managing Director, ABFRL that boasts of a network of over 2,800 stores across the country.
The retailer’s earnings before interest, tax, depreciation and amortization (EBITDA) grew 28 per cent to Rs. 156 crore with margin expansion of 120 basis points.
On Tuesday (6 August), ABFRL’s stock rose 6.5 per cent on the BSE to close at Rs.200.10 a piece.
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