Aditya Birla Fashion and Retail reports Q3 Net at Rs 7.43 cr

Aditya Birla Fashion and Retail Ltd (ABFRL) today reported net profit at Rs 7.43 crore for the third quarter ended December 31, 2015.
The company had reported net loss of Rs 42.78 crore in the corresponding period a year ago.
Its net sales grew by over three-fold to Rs 1,616.93 crore in the quarter under review as against Rs 441.14 crore in the corresponding period a year ago, the company said in a BSE filing.
In May last year, Aditya Birla Group announced merger of all its branded apparel businesses into one entity, Aditya Birla Fashion and Retail Ltd, through an all-share deal.

The new entity will have a combined turnover of Rs 5,290 crore and a retail network of 1,869 exclusive stores, becoming the largest pure play fashion company in the country.
As per the scheme of arrangement, the apparel businesses of group holding company Aditya Birla Nuvo and of another group firm Madura Garments Lifestyle Retail Ltd was demerged into listed firm Pantaloons Fashion & Retail Ltd (PFRL).
Shares of Aditya Birla Fashion and Retail Ltd closed 9.96 per cent down at Rs 145.60 apiece on the BSE today.