India’s leading fashion company Aditya Birla Fashion and Retail Limited (ABFRL) has posted net profit of Rs. 94.44 crore in the first quarter of FY ’23, while it faced a loss of Rs. 352.15 crore in the same period of the last financial year.
The parent company of Pantaloons reported its highest ever quarterly sales in Q1, FY ’23.
In a regulatory filing, the company said that in the first quarter, which ended 30 June of the current fiscal 2022-23, its total revenue from operations increased by more than threefold to Rs. 2,874.76 crore,while the samewas Rs. 811.95 crore in the same quarter last year.
The revenue increased by 39 per cent over pre-pandemic levels from Rs. 2,065 crore in Q1 FY ’20.
ABFRL boasts of reputed brands like Louis Philippe, Allen Solly, Van Heusen and Peter England, while its portfolio of international brands includes The Collective,besides having partnerships with Ralph Lauren, Hackett London, Ted Baker, Fred Perry, Forever 21, American Eagle and Reebok.
Focusing on ethnicwear segment, the company recently forayed into this segment and offers brands such as Jaypore, Tasva and Marigold Lane. It also has strategic partnerships with designers Shantanu & Nikhil, Tarun Tahiliani, Sabyasachi and House of Masaba.
“Improved consumer confidence, value migration to the organised sector and robust omnichannel presence led to strong growth and improved profitability. We expect this momentum to continue in upcoming quarters, with a further boost during the festive season,” the company said on its outlook.
The company will continue to invest in strengthening their brand propositions and drive sales via both physical and online stores.