Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 107.60 crore for the third quarter ended December 2023.
Aditya Birla Fashion and Retail Ltd (ABFRL) records a Q3 net loss of Rs 107.60 crore with a revenue surge to Rs 4,166.71 crore. Despite the loss, driven by new business acquisitions, ABFRL sees revenue growth from operations, including a robust performance from 'Madura Fashion & Lifestyle' and Pantaloons.
Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 107.60 crore for the third quarter ended December 2023.
The company had posted a net profit of Rs 11.21 crore during the October-December quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL).
Its revenue from operations was at Rs 4,166.71 during the quarter under review. In the year-ago period, the company's revenue from operations stood at Rs 3,588.80 crore.
According to the Aditya Birla group firm, the consolidated financial results for the quarter ended December 31, 2023 are "not comparable with previous quarters" pursuant to the acquisition of TCNS Clothing and Styleverse Lifestyle.
ABFRL's total expenses were at Rs 4,302.93 crore in the December quarter.
Growth in the quarter was "driven by new businesses", ABFRL in an earnings statement said, adding the "overall market remained subdued leading to modest growth for the traditional portfolio."
Its revenue from the 'Madura Fashion & Lifestyle' segment was at Rs 2,940.82 crore, while Pantaloons' revenue was at Rs 1,297.47 crore.
Pantaloons continued to focus on product enhancements and driving higher conversions. "Pantaloons network grew to 446 stores this quarter as the business focused on overall improvement of the health of the network," it said.
While Reebok business posted another quarter of over Rs 100 crore sales, driven by continued distribution expansion and improved store throughputs, the filing said.
Over the outlook, ABFRL said it will continue to manage business dynamically, ensuring long-term growth and sustainability.
"Having solidified our presence across multiple categories, segments, channels, and price points, ABFRL is well placed to leverage the next wave of growth in the segment by unlocking its various growth platforms," it said.
Shares of Aditya Birla Fashion and Retail Ltd on Thursday were trading at Rs 238.15 on the BSE, down 2.08 per cent.