 "ABFRL Q1 net loss narrows to Rs 21 crore")
Aditya Birla Fashion and Retail (ABFRL), formerly known as Pantaloons Fashion, on Wednesday reported a net loss of Rs 20.82 crore for the first quarter ended June 30.
The company had reported a net loss of Rs 67.88 crore in the same period last year.
ABFRL's total income from operations stood at Rs 1,415.12 crore during the quarter under review, up 8.28 per cent as against net sales of Rs 1,306.86 crore in the same quarter of previous financial year.
During the quarter, the company acquired online and offline rights of the global brand Forever 21 for the Indian market and its existing store network in India from the current franchise Diana Retail Pvt Ltd.
The stock of the company plunged by 6.06 per cent to Rs 155.85 on BSE.
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