Aditya Birla Fashion Q3 net loss narrows to Rs 51 crore

Aditya Birla Fashion and Retail Ltd (ABFRL) reported a net loss of Rs 51 crore ($5.9 million) for the third quarter of financial year 2024 narrowing from a loss of Rs 78 crore in the same period last year.

The company’s revenue for the quarter rose by 3 percent to Rs 4,305 crore, as against Rs 4,167 crore in the corresponding quarter of the previous fiscal year.

Pantaloons segment recorded quarterly sales of Rs 1,305 crore with festive growth at 6 percent driven by superior fashion forward merchandise.

Luxury retail comprising the multi-brand format ‘The Collective’ and other mono brands continued its profitable growth with a year-on-year revenue increase of 13 percent.

“Brands delivered strong retail growth, driven by a robust festive season and a continued sharp focus on product innovations, enhanced retail experiences and brand salience. Significant growth this quarter was fuelled by newer businesses catering to emerging consumer segments, in line with the company’s diversification strategy.,” ABFRL said in a press release.

“ABFRL is successfully driving its transformation through portfolio enrichment, refinement of distribution strategy and structural cost alignment, which has led to consistent improvement in profitability in a challenging market environment,” it added.

ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. It has a network of 4,607 stores across approximately 37,352 multi-brand outlets with 9,466 points of sale in department stores across India.