Aditya Birla Fashion and Retail Reports Q4 Net Loss At Rs194.54 Crore
Aditya Birla Fashion and Retail Ltd on Monday reported a consolidated net loss of Rs194.54 crore for the fourth quarter ended March 2023.
The company had posted a net profit of Rs31.90 crore during the January- March quarter of the former financial, Aditya Birla Fashion and RetailLtd. said in a nonsupervisory form.
Its profit from operations was Rs 2,879.73 crore during the quarter under review. It was Rs 2,282.83 crore in the matching period of the former financial.
" Net profit for the quarter was impacted due to negative operating influence on the reverse of sluggish deals. The increase in marketing spending and continued investments in TMRW also impacted profitability in the quarter," said ABFRL in its earning statement.
ABFRL’s aggregate charges were Rs 3,177.64 crore in Q4 FY23.
According to the Aditya Birla Group establishment, its consolidated fiscal results for the quarter and time ended March 31, 2023, aren't' similar' with the quarter and time ended March 31, 2022.
This is due to the" accession of accessories House of Masaba Lifestyle Private Limitedw.e.f. June 01, 2022, Aditya Birla Digital Fashion Ventures Limitedw.e.f. April 11, 2022, and Aditya Birla Garments Limitedw.e.f. June 15, 2022."
Its profit in the March quarter from Madura Fashion & Lifestyle member was Rs 2,155.68 crore and Rs797.81 crore from its retail chain Pantaloons.
ABFRL has" closed the quarter with net debt of Rs 1,422 crore primarily on account of continued investments in new growth gambles."
" Growth in daily profit was propelled by robust retail like- to- like deals across businesses, accelerated omnichannel play and network expansion as the company added 500 stores in the last one time. Net profit for the quarter was impacted due to negative operating influence on the reverse of sluggish deals," it said.
For the financial ended March 2023, ABFRL's loss was at Rs59.47 crore. It reported a net loss of Rs118.36 crore in FY22.
Its consolidated profit from operations was Rs 12,417.90 crore in FY23.
Over the outlook, ABFRL said as the profitable situation recovers, it remains focused on erecting strong brands and managing the businesses with inflexibility and dexterity.
" With a long- term rise in optional consumption, the vesture assiduity is primed for significant growth bolstered by premiumisation and an accelerated shift from unbranded to ingrained products," it said.
ABFRL, part of the Aditya Birla group, has an elegant bouquet of leading fashion brands and retail formats.
The company, which has a force of leading brands, similar as Louis Philippe, Van Heusen, Allen Solly and Peter England, besides fast fashion store Pantaloons, has a network of 3,977 stores across roughly 33,535multi-brand outlets as of March 31, 2023.
Its transnational Brands portfolio includes- The Collaborative, India's largestmulti-brand retailer of transnational brands, and has long- term exclusive hookups with select brands like Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.
Shares of Aditya Birla Fashion and Retail Ltd on Monday settled at Rs189.85 on BSE, up0.58 per cent from the former close.