Aditya Birla Fashion and Retail Q3 rises 2-fold at Rs 70 cr

Aditya Birla Fashion and Retail Monday reported a two-fold jump in profit after tax at Rs 70 crore in the December quarter 2018.

The company had posted profit after tax (PAT) of Rs 35 crore in the corresponding quarter last fiscal, Aditya Birla Fashion and Retail (ABFR) said in a statement.

Revenue during the quarter under review stood at Rs 2,282 crore as against Rs 1,855 crore in the year-ago quarter, up 23 per cent.

The rise in PAT was on account of an overall improvement in all the business segments.

Its Madura business segment, comprising lifestyle brands Louis Philippe, Van Heusen, Allen Solly and Peter England and fast fashion labels Forever 21 and People, among others posted 18 per cent growth in revenue at Rs 1,345 crore in the third quarter as against Rs 1,139 crore in the same period last fiscal, the company said.

Pantaloons also delivered an impressive performance with revenue growing by 28 per cent at Rs 961 crore.

On the outlook, ABFR said the lifestyle brands will continue growth momentum, led by product innovation, network expansion, growth category expansion and impactful marketing campaigns.

"Pantaloons' growth will be accelerated with its continued focus on product enhancement, brand investments and expansion into newer markets," it added.

The company said its fast fashion segment will continue with the journey of business model improvement, while innerwear will expand reach, riding on both men's and women's distinctive products.