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Aditya Birla Fashion Q3 net profit up over three-folds at Rs 196.80 crore

Aditya Birla Fashion and Retail Ltd reported an over three-fold jump in its net profit at Rs 196.80 crore for the third quarter ended December 2021

Aditya Birla Fashion | Q3 results

Press Trust of India  |  New Delhi 

Aditya Birla Fashion to set up subsidiary for entry into D2C space

and Retail Ltd on Friday reported an over three-fold jump in its net profit at Rs 196.80 crore for the third quarter ended December 2021 as it witnessed a sharp rise in consumer footfalls at stores.

The company had posted a net profit of Rs 58.44 in the year-ago quarter, and Retail Ltd (ABFRL) said in a regulatory filing.

Its revenue from operations rose 43.87 per cent to Rs 2,987.10 crore during the quarter under review, against Rs 2,076.19 crore in the corresponding period of the previous fiscal.

"Q3 saw a sharp rise in consumer footfalls which led to strong revenue growth across channels," said ABFRL in a post earning statement.

Its consolidated EBITDA in Q3/FY22 was Rs 609 crore, registering a 44 per cent growth over the previous fiscal.

"EBITDA margin expanded by 400 bps Vs pre-COVID levels," said ABFRL.

Total expenses of Aditya Birla group firm increased 36.52 per cent to Rs 2,744.35 crore in the quarter, from Rs 2,010.17 crore a year ago.

Its revenue from Madura Fashion & Lifestyle segment surged 57.59 per cent to Rs 1,990.52 crore, compared to Rs 1,263.10 crore in the year-ago quarter.

"New category launches in active wear and casual wear fuelled growth. The business also continued its expansion into smaller town markets, building upon successful pilots carried out earlier this year," it said.

Pantaloons' revenue increased 31.45 per cent to Rs 1,066.43 crore, against Rs 811.27 crore, driven by robust footfalls in festive period.

"The e-commerce channel grew by 67 per cent YoY, with almost doubling its revenue over last year. Pantaloons continued its aggressive network expansion by opening 22 stores this quarter. It created a new milestone by opening 12 stores in 12 consecutive days during the festive season," it said.

Over the outlook, the company said the onset of Covid third wave has affected current market conditions and it expects normalcy to return in the following months as the pandemic wears down.

"The company remains focused on leveraging its strong brand portfolio, evolving its product profile in line with changing consumer preferences, expanding its reach and accelerating its Omni-channel play. Sharp focus on cost and capital productivity will continue to guide the company's business model," it said.

ABFRL has a repertoire of leading brands such as Louis Philippe, Van Heusen, Allen Solly and Peter England. It also own fast fashion store brand Pantaloons.

Shares of and Retail Ltd on Friday closed 2.91 per cent lower at Rs 295.30 apiece on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Fri, February 04 2022. 20:59 IST