Aditya Birla Fashion and Retail (ABFRL) reported a 94 per cent drop in consolidated net profit of Rs 11.21 crore for the third quarter ended December 2022, compared to a net profit of Rs 196.80 crore in the previous fiscal’s October-December quarter, as per company’s regulatory filing..
However, its income from operations climbed by 20.1 per cent to Rs 3,588.80 crore in Q3 FY23, compared to Rs 2987.10 crore in the previous fiscal quarter.
According to the regulatory filing, ABFRL’s overall costs increased to Rs 3,602.84 crore in Q3 FY23 from Rs 2,744.35 crore in the previous year.
The company’s combined quarterly EBITDA was Rs. 467 crore.
ABFRL stated in a statement that it is continuing to aggressively expand its network. Its branded business network expanded by 245 stores, including newly integrated Reebok locations, and ethnic business expanded by 15 outlets.
Furthermore, the company’s network of small town size retailers within Lifestyle brands currently exceeds 550 locations.
Pantaloons expanded their network with ten more locations. It stated that it will continue to execute its long-term strategy of playing in developing consumer areas.
The company’s long-term prognosis remains favourable as a result of the normalisation of offline companies, the development of e-commerce, and the continuous penetration of organised and branded clothes on the basis of our brands.
ABFRL is well positioned to benefit on several growth factors, having firmly established its presence across multiple categories, sectors, channels, and price points.
Aditya Birla Fashion and Retail shares were down 1.6 per cent in Tuesday afternoon trade.