Aditya Birla Fashion and Retail Ltd (ABFRL) net loss for the January-March quarter widened by 37 percent to Rs 266 crore ($32 million), as against Rs 195 crore in the year ago quarter.
The company’s revenue for the quarter increased by 18 percent to Rs 3,407 crore, as against Rs 2,880 crore in the corresponding quarter of the previous fiscal year.
For the financial year 2024, the company reported a revenue of Rs 13,996 crore with a net loss of Rs 736 crore.
“Growth this quarter was predominantly driven by new businesses within the portfolio. All businesses, with a clear focus on profitability enhancement, posted EBITDA margin expansion this quarter. Net profit for the quarter and the year was impacted by increased interest costs due to elevated borrowings compared to last year, primarily because of the TCNS acquisition,” ABFRL said in a statement.
“With consumption remaining sluggish over the past 6-8 quarters, the company has sustained its focus on its long-term strategy to build strong & timeless brands for its consumers, while operating with flexibility and agility,” it added.
The company ended the financial year 2024 with a network of 4,664 stores, 37,205 multi-brand outlets and 9,563 point of sales in department stores across India.
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