Aditya Birla Fashion gains on business expansion plans

Aditya Birla Fashion and Retail surged 4.41% to Rs 201.20 after the company highlighted that Peter England Red format plans to build a Rs 900 crore business spread across 1,000 stores over the next three years.

Further, the company said that Allen Solly Prime targets to open 500 stores in three years.

The company plans to add 250 Pantaloons stores in the next three years across 100 new towns. It is on course to increase share of private labels from 61% in FY20 to 75% in FY25. E-commerce channel scaled up 3x during FY21 and is likely to to contribute 8-10% of sales by FY25.

ABFRL is part of a leading Indian conglomerate, The Aditya Birla Group. It is India's first billion-dollar pure-play fashion powerhouse with an elegant bouquet of leading fashion brands and retail formats.

On a consolidated basis, the company's net profit stood at Rs 58.44 crore in Q3 FY21 as against net loss of Rs 37.64 crore in Q3 FY20. Revenue from operations tumbled 19.61% to Rs 2,076.19 crore in Q3 FY21 from Rs 2,582.74 crore in Q3 FY20.

Powered by Capital Market - Live News