 "Aditya Birla Fashion and Retail Q1FY24 results: Net loss of Rs 141 crore")
Aditya Birla Fashion and Retail Ltd on Friday reported a net loss of Rs 141.43 crore in the quarter that ended on June 30 against a profit of Rs 97.46 crore in the subsequent quarter last year. The loss, however, was 24.3 per cent less than Rs 194.54 crore in the quarter that ended on March 31.
The company's revenue from operations was up 11.1 per cent to Rs 3,196.06 crore as compared to Rs 2,874.76 crore in Q1FY23. As compared to Q4FY23, the revenue was up 10.9 per cent.
The Competition Commission of India (CCI) had last week approved the acquisition of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited.
The proposed combination involves the acquisition of 51 per cent of the expanded share capital of TCNS Clothing Co Limited by Aditya Birla Fashion and Retail Limited.
Aditya Birla Fashion and Retail Limited is a listed company and is part of the Aditya Birla conglomerate. It is engaged in retailing of branded products within the apparel, footwear and accessories segment, through its retail stores, online retail platforms, and e-commerce marketplaces.
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