Aditya Birla Fashion and Retail Ltd (ABFRL) reported a net loss of Rs. 266 crore for the January-March quarter, a 37 per cent increase from the Rs. 195 crore loss in the same quarter last year.
The company’s revenue for the quarter rose by 18 per cent to Rs. 3,407 crore, compared to Rs. 2,880 crore in the corresponding period of the previous fiscal year.
For the financial year 2024, ABFRL posted a revenue of Rs. 13,996 crore and 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.
At the end of the financial year 2024, the company had a network of 4,664 stores, 37,205 multi-brand outlets, and 9,563 points of sale in department stores across India.
